Ethereum Supply on Exchanges Hits a Decade Low: Is ETH Preparing for a Major Move?

The world’s second-largest crypto asset by market cap has had a rough couple of weeks. But its exchange reserves have dropped to around 14.5 million ETH as of November 2, levels last seen in 2016. That’s a sharp decline from the 2020 peak of roughly 35 million, meaning about 20.5 million Ethereum, or 58.6%, has left tracked exchanges, according to CryptoQuant. Binance is seeing a similar trend, as its reserves fell to 3.08 million ETH, approaching levels last recorded in late 2020. Compared with its 2025 peak of 4.9 million, the exchange has lost around 1.82 million, a 37.1% drop.