Binance ETH reserves hit six-month low as withdrawals surge

Binance’s Ethereum stockpile just shrank to its smallest size in six months. Reserves on the exchange dropped to 3.47 million ETH in early October 2026, while users kept pulling coins off the platform at a record clip. The numbers behind the drain The latest reading of 3.47 million ETH follows a figure of 3.57 million ETH recorded shortly before. In late September 2026, the exchange held 3.54 million ETH, which points to a steady slide rather than a one-day blip. Zoom out a bit further and the trend looks sharper. Back in August 2026, Binance held approximately 3.92 million ETH. The current level is down 11.5% from that mark. The withdrawal side of the ledger set its own record. On October 6, Binance processed more than 320,000 ETH withdrawal transactions, the highest count on record. All of this landed during a rough patch for the asset itself. ETH lost approximately 10-11% over a span of three days. That move erased more than $38 billion from Ethereum’s market capitalization. The rest of the altcoin market did not fare better. Altcoins collectively shed more than $110 billion in market value over the same three-day window. Wall Street is moving the other way While retail and on-e...