Ethereum Whales Flock To Binance As Exchange Captures Record 49% Of ETH Outflows
The post Ethereum Whales Flock To Binance As Exchange Captures Record 49% Of ETH Outflows appeared on BitcoinEthereumNews.com.
Total exchange withdrawals are falling, but Binance currently processes nearly half of all Ethereum exchange outflows. On-chain metrics suggest that Ethereum’s price is down relative to Bitcoin, but strategic offloading or accumulation is possible. ETH analysts expect a long-term bullish reversal of ETH based on long-term chart patterns and ETH/BTC comparisons. Ethereum ($ETH) withdrawals increasingly concentrate on Binance, even as overall exchange outflows decline. According to CryptoQuant, Binance received a record 49% of all ETH outflows last month. The total ETH outflows from centralized exchanges also dipped across the broader market. Onchain data shows 9.6 million ETH and 1.1 million BTC left exchanges in the past 30 days. The spotlight remains on Binance’s growing share, with numbers that exclude inflows. In the same period, the exchange also captured 22% of total Bitcoin outflows, revealing a parallel shift in user behavior. Crazzyblockk, who published the analysis, noted, “This divergence suggests a concentration of withdrawal activity toward Binance — signaling that users are increasingly choosing Binance as an off-ramp for Ethereum.” With overall withdrawals decreasing while Binance’s share of outflow has grown, this divergence suggests that some participants are taking measures to minimize withdrawals. This might involve custody changes, institutional reallocation, or market-preparatory positioning. Market Activity Shows Mixed Signals Between Bitcoin and Ethereum Ethereum’s price currently sits at $1,843.87, up 4.83% in the past 24 hours, but it still trails Bitcoin. Currently, bitcoin is trading at $96,635.81, after a 2.84% uptick over the 24 hours. According to TradingView metrics, BTC has seen 27.50% growth on a year-to-date basis, whereas ETH has dropped 36.53%. Source: Trading view Exchange outflows also reflect the difference in momentum. On-chain data shows that ETH exchange reserves have been on a gradual decline yet remain high in absolute terms relative to BTC. On the other hand, Bitcoin reserves…
Filed under: News - @ May 2, 2025 10:18 am