According to CoinMeta, crypto analyst Darkfost stated that Binance’s holdings of ETH have dropped to around 2.9 million coins, hitting a new low since 2021. In July 2025, Binance’s reserves of ETH exceeded 5 million coins, at a time when the price of ETH was close to $5,000. Since then, the price of ETH has corrected by more than 63%, and during the same period, Binance’s reserves of ETH decreased by nearly 42%. Binance’s 30-day moving average net inflow has mostly been in the negative range, with ETH outflows consistently exceeding inflows, leading to a reduction in the exchange’s reserves and a decrease in the supply of ETH that is available for sale on the market at any time.