Binance recorded $1.23 billion in net outflows last week. That’s a 207% jump from the $400 million the week before. Ethereum withdrawals are driving most of it.
On Friday, CryptoQuant analyst Darkfost noted that Binance’s ETH withdrawal transactions hit a three-year high — over 166,000 in a single day. Some of this is accumulation, sure. But regulatory pressure from Europe’s MiCA rules and short-term market positioning are likely factors too.
Ether’s price is actually up about 12.5% over the past week, trading around $1,766. Darkfost said the withdrawal surge suggests genuine demand around the $1,500 level, with investors pulling funds off the exchange — a move that usually points to longer-term holding, not quick trades.
Bitcoin edged up too, 4.3% to $62,925.
It’s not just Binance seeing money walk out the door. Bitfinex lost $407.5 million, Gate $214.3 million, OKX $87.1 million, and Bybit $78.4 million. On the other side, Crypto.com pulled in about $63 million and HashKey Exchange $53.3 million in inflows. KuCoin, Gemini, and Bitvavo saw smaller positive flows.
Big exchange outflows don’t always mean panic — sometimes they mean people are moving to self-custody. But the scale here is worth watching.
