Binance Ethereum reserves hit six-month low amid record withdrawals

Binance’s Ethereum (ETH) reserves have declined to their lowest level in six months. Reports indicate that reserves dropped to approximately 3.47 million ETH in early October 2026, down from roughly 3.92 million ETH in August 2026, representing an 11.5% decrease.

Simultaneously, the exchange has seen a surge in user activity, with daily Ethereum withdrawal transactions reaching a record high. On October 6, Binance processed more than 320,000 ETH withdrawal transactions. This trend of users moving assets off the platform occurred during a period of market volatility where Ethereum lost approximately 10-11% of its value over three days.

While retail users appear to be moving coins into self-custody, institutional trends show a different pattern. US-listed spot Ethereum exchange-traded funds (ETFs) recorded eight consecutive days of outflows in October 2026, totaling roughly $580 million.