Binance Records 166K ETH Withdrawals in Single Day, Highest Since March 2023
Binance recorded more than 166,000 Ethereum withdrawal transactions in a single day, marking the exchange’s highest daily outflow since March 2023. The surge came as ETH traded near the $1,500 area, following a 67% decline from its August 2025 peak.
Market data from CoinGecko shows Ethereum currently trading at $1,719.28, up 6.0% over the past 24 hours. ETH also gained 3.8% against Bitcoin, trading at 0.02786 BTC, indicating stronger short-term relative performance.
Also read: Ethereum Price Rebounds After $92 Million Short Squeeze Wipes Out Bearish Traders
Ethereum Withdrawals Hit Three-Year High
Data cited by analysts from CryptoQuant Japan showed that Binance saw its sharpest rise in ETH withdrawal transactions in more than three years. The level had not been seen since March 2023. The move followed a period where Ethereum faced stronger selling pressure than Bitcoin during the latest downturn — ETH’s 67% decline from its August 2025 high was about 15 percentage points deeper than Bitcoin’s correction over the same period.
Despite the broader downtrend, ETH posted a modest rebound of about 10% over two days. The recovery followed a period of weaker trading across the crypto market. However, analysts said the withdrawal data needed careful reading before drawing firm conclusions.
Also read: Ethereum Institutional Launches With Joseph Lubin Backing to Win the Tokenisation Race
Demand Seen Around the $1,500 Level
The rise in Binance withdrawals may show renewed demand near the $1,500 price area. Crypto traders often track exchange withdrawals because they can suggest reduced selling pressure. Funds moved away from exchanges may also reflect longer holding plans.
Some analysts said the scale of the withdrawals pointed to possible accumulation. When users remove ETH from trading platforms, they may be moving coins into private wallets. This behavior can differ from short-term trading on centralized exchanges. However, the data does not prove that all withdrawals were linked to buying demand. Some transfers may have gone to DeFi platforms or other crypto services. As a result, the withdrawal count gives a broad signal but not a complete market picture.
MiCA Concerns Add Another Factor
The withdrawal surge also followed concerns linked to MiCA rules in Europe. Some investors appeared to move ETH before the July 1 requirements took effect. Market analysts said those moves were tied to fears that withdrawals could be restricted. Actual withdrawal limits on Binance did not follow those fears — no freeze was imposed, according to details shared in the market report.
Still, the concern may have added to the short-term rise in withdrawal activity. The data, therefore, reflects several forces at the same time: long-term accumulation, DeFi transfers, and MiCA-related caution may all have played a role. Traders are now watching whether ETH outflows continue, which could support stronger demand near $1,500.
Frequently Asked Questions
Why did Binance see a spike in ETH withdrawals?
The spike may reflect renewed demand near the $1,500 price level, but analysts say it could also be driven by transfers to DeFi platforms or caution ahead of MiCA regulations taking effect in Europe.
What does a high number of exchange withdrawals mean for Ethereum?
High withdrawals often signal reduced selling pressure and potential long-term accumulation, as coins moved off exchanges may be held in private wallets.
How much has Ethereum dropped from its recent high?
Ethereum fell about 67% from its August 2025 high, a deeper correction than Bitcoin’s decline over the same period.
What is the current price of Ethereum?
As of July 3, 2026, Ethereum is trading at $1,719.28, up 6% in the last 24 hours, according to CoinGecko.
