Ethereum Balance on Binance at 7-Month Low, Here’s Implication for ETH Price

2 hours ago by · 2 mins read

CryptoQuant recently reported a significant drop in Ethereum supply on the top cryptocurrency exchange, Binance.

Blockchain analytics platform CryptoQuant has reported the Ethereum ETH $3 474 24h volatility: 1.9% Market cap: $420.15 B Vol. 24h: $36.07 B balance outlook on cryptocurrency exchange Binance. According to its post on X, Ethereum exchange supply on Binance has fallen to its lowest level in the last seven months.

Ethereum Needs Time to Restart an Upward Trend

Arab Chain on CryptoQuant noted that Binance is the largest Ethereum trading platform by volume. However, the supply of the altcoin on this exchange has been on a downtrend since the middle of this year. Around June and July, the Ethereum volume on Binance peaked. It was sustained for a while until November, when it began to decline sharply.

The decline has finally brought the supply to its lowest level since last May. The continuous dip in the available Ethereum supply on exchanges may be an indication of a movement of coins into cold or private wallets.

This behavior is considered to be bullish in the medium to long term. For context, a reduction in the supply available for sale reduces market pressure.

Around August and September, ETH fluctuated between $4,500 and $5,000. Recently, the price of the coin has plummeted below $3,500. According to CoinMarketCap data, Ethereum is currently trading at $3,577.08, up by 1.2% over the last 24 hours. Coincidentally, the price drop comes at the same time as the exchange supply dip of the coin.

Traders may have withdrawn their coin after taking profit in September and are probably waiting for an opportunity to join the market again for longer-term gains. However, there are still some, like 7 Siblings, which continue to buy the dip.

Grab Some Gains from Bitcoin Hyper

While Ethereum joins the price recovery trend with other cryptocurrencies, the spotlight is resting on some new projects, such as Bitcoin Hyper (HYPER).

This coin currently has the attention of many traders, and its ongoing presale has seen support from several entities. Markedly, it has a strong reputation among retail investors in the sector.

It is designed as a Layer-2 solution BTC project with strong potential for early investors. HYPER is fitted to those who are not afraid to take on high risks for high rewards. Its strong presence and potential have found it a position among the best crypto presales of 2025.

Read our Bitcoin Hyper price prediction to learn more about the future of the project.

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