Binance ETH Reserves Hit a Five-Year Low as Price Slides

Binance ETH reserves have fallen to an estimated 2.9 million, their lowest level in nearly five years, as ether’s price slid to a four-month low on November 15, 2026. The decline may mean fewer coins are immediately available to sell on the exchange. It doesn’t prove investors are accumulating ETH or that the price has found a floor.

What we know about Binance ETH reserves

BeInCrypto reported on November 15 that analyst Darkfost estimated Binance held roughly 2.9 million ETH. The outlet said the exchange last held a comparable amount in November 2020, while crypto.news described the estimate as the lowest since 2021. The data supports a nearly five-year low, though the historical comparison depends on how the estimate is framed.

According to BeInCrypto and crypto.news, the estimate is nearly 42% below the more than 5 million ETH Binance held in July 2025. Crypto.news said the 30-day average netflow was negative for much of the period, meaning more ETH generally left the exchange than entered it. Those transfers don’t reveal why the coins moved.

How to read Binance ETH reserves

A separate Binance figure shouldn’t be conflated with the 2.9 million estimate. Crypto.news reported that Binance’s Proof of Reserves snapshot showed 3,482,001 ETH in customer balances on November 12, up 35,911 ETH, or 1.04%, from November 4. The totals use different datasets and measures, so they aren’t directly interchangeable.

BeInCrypto said Darkfost suggested users may have moved ETH into self-custody or DeFi yield strategies. The reserve data doesn’t show where all withdrawn ETH went or whether it was later sold elsewhere. A lower balance can mean fewer coins are held ready to trade on Binance, but it isn’t a demand indicator by itself.

What is still unclear

The reason for the outflows remains unresolved. Darkfost suggested that users may be moving ETH into self-custody or DeFi yield strategies, but the reserve data does not identify where all withdrawn ETH went.

The outflows also overlap with a major Binance security incident. Binance said an October 29 incident affected approximately $6.34 billion in digital assets. In a November 3 update, the company said 98% of impacted token assets had been replenished as of October 31, and about $2.85 billion had been frozen or intercepted. Binance said the final unauthorized transfer, 2,961.9 ETH, finalized at 23:56 UTC on October 29, with no further unauthorized transfers observed afterward. The company’s account is in its incident update.

BeInCrypto raised the possibility that some withdrawals were safety-related, but available information doesn’t quantify how much of the reserve decline, if any, came from users reacting to the incident. The FBI said on November 12 that the US had seized more than $1.2 billion in cryptocurrency reported stolen from Binance. The Associated Press reported that government and private-sector partners had frozen more than $2.7 billion combined. These recovery figures provide context, but don’t explain the ETH reserve movement.

How markets and analysts reacted

BeInCrypto reported ETH at $1,826.23, down 4.26% over the previous 24 hours, at the time of its November 15 article. It also said ETH briefly reached about $1,711 on Binance, its lowest price since early July. A CoinGecko snapshot at 17:13 UTC showed a different short-term reading.

Asset	Price	24-hour change	7-day change
ETH	$1,815.99	-0.02%	-18.96%
BTC	$64,778	-0.56%	-14.86%

CoinGecko recorded these figures at 17:13 UTC on November 15. ETH was more than 63% below its August 2025 peak, in line with the drawdown described by BeInCrypto. Crypto.news also cited about $398.9 million in net outflows from US spot Ethereum ETFs during November 9-13, another sign of weak demand for ETH exposure through that channel.

Lookonchain flagged four large Ethereum buyers during the decline. BeInCrypto reported that wallets linked to Erik Voorhees spent $125.27 million for 63,540 ETH at an average of $1,972.70, while siblings bought 31,484 ETH for $60.88 million at an average of $1,933. Two of the four buyers reportedly withdrew directly from exchanges. These selected wallets don’t represent the whole market, and their reported entry prices were above the later price cited in the article.

Analyst Ted Pillows said ETH had bounced from a $1,700-$1,720 support zone and warned that losing it could expose lower levels, including Ethereum’s 2018 highs. Ali Charts identified a daily TD Sequential buy signal and said a rebound could test the 200-day simple moving average near $2,150. These are analyst interpretations, not confirmed outcomes.

What it means for investors

For people tracking Binance ETH reserves, exchange balances are one data point, not a standalone signal. Outflows can coincide with falling prices, and reserve data alone does not establish whether demand is increasing. Reserve trends and the roughly $1,700 support area cited by analysts describe different parts of the market.

Conditions remain fragile. The Crypto Fear & Greed Index was 10, classified as Extreme Fear, on November 15. In CoinGecko’s 17:13 UTC snapshot, Bitcoin was down 14.86% over the week and ETH was down 18.96%. These figures describe sentiment and recent performance, not a recovery forecast.

Bottom line

Binance ETH reserves are estimated near 2.9 million, but that on-chain measure differs from the exchange’s customer-balance snapshot. With ETH still under pressure, outflows and whale purchases haven’t established a price floor. The next clues are whether exchange flows persist and how price behaves around the support zone cited by analysts.

Sources

• 29 October 2026 Binance Security Incident: Initial Findings and Response Update (www.binance.com)
• Binance Holds the Least Ethereum Since 2021 (BeInCrypto)
• Ethereum reserves on Binance hit five-year low as ETH price falls (crypto.news)

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.

Read More: Binance ETH Reserves Hit a Five-Year Low as Price Slides">Binance ETH Reserves Hit a Five-Year Low as Price Slides