According to data shared by CryptoQuant, Ethereum’s Exchange Supply Ratio on Binance has dropped to approximately 0.0296, marking its lowest level since August 2024.
The move reflects a notable shift in holder behavior and suggests a tightening in immediately available supply.
This decline signals that a smaller share of Ethereum’s circulating supply is currently held on Binance relative to previous months.
A falling Exchange Supply Ratio typically indicates that investors are withdrawing assets from centralized platforms into private wallets, custody solutions, or staking protocols.
In this case, the drop toward 0.0296 suggests:
Historically, declining exchange balances are considered structurally constructive, as they reduce the pool of coins readily available for spot selling.
The supply contraction comes while Ethereum trades near $1,950. Although this level reflects a significant pullback from prior cycle highs, price has remained within a relatively stable range in recent weeks.
The divergence between weaker price structure and declining exchange supply may indicate that spot sellers are not aggressively distributing at current levels.
After the sharp decline, the Exchange Supply Ratio has slightly rebounded toward the 0.03 level in recent days. This could reflect short-term repositioning or limited supply returning to the platform for tactical trading.
However, the rebound remains modest compared to the magnitude of the prior drop.
For now, the broader structural trend still favors reduced exchange supply, a condition that, if sustained alongside improving demand, could tighten the market balance in future volatility phases.
The post Ethereum Supply on Binance Falls to Lowest Level Since August 2024 appeared first on ETHNews.


Pi Network has officially confirmed the launch date of its decentralized exchange (DEX), scheduled for Marc