Amr Taha
Binance ETH Withdrawals Total $501M Across Seven Sessions, Drawing Comparison With June 5
Ethereum recorded a -$187 million netflow on Binance on August 28, marking the platform’s largest negative daily ETH reading since June 5, when netflow reached -$207 million. The move was followed by several additional negative sessions. Binance recorded -$37 million on August 31, -$55 million on September 3, -$84 million on September 4, -$22 million on September 5, -$38 million on September 6, and -$78 million on September 8. Across those seven negative readings, approximately $501 million worth of ETH left Binance on a net basis. The historical comparison adds weight to the move. On June 5, Binance posted -$207 million, while OKX and Bybit recorded roughly -$97 million and -$86 million, respectively, bringing combined negative netflows across the three exchanges to about $390 million. Ethereum was trading below $1,600 at the time. ETH later climbed to around $2,480, leaving the current price more than 55% above its early-June level. The latest data do not imply that the price action following June will repeat. However, Binance’s August 28 reading came within roughly 10% of the June 5 extreme, while repeated negative netflows have continued into September. The key signal is the scale and persistence of exchange withdrawals: Binance has now recorded its largest negative ETH netflow since June, alongside $501 million across seven recent negative readings, while Ethereum continues to trade near $2,500.