Ethereum Withdrawals on Binance Hit 3-Year High Amid Signs of Demand Near $1,500

Ethereum (ETH) withdrawal activity on Binance climbed to its highest level in more than three years, with more than 166,000 withdrawal transactions recorded in a single day, according to CryptoQuant analyst Darkfost. The increase came as ETH rebounded about 10% over the past two days.

Despite the recent recovery, ETH remains around 67% below its August 2025 peak, a steeper decline than Bitcoin's over the same period, the analyst said.

Darkfost said the surge in withdrawals could indicate demand is building around the $1,500 price level, with investors moving ETH off Binance to gain exposure and hold assets outside the exchange—a pattern often associated with longer-term accumulation. However, he noted that some withdrawals may also reflect funds being redeployed into DeFi protocols to earn yield or transfers prompted by confusion over the European Union's MiCA regulations, which took effect on July 1.

While the spike in withdrawals cannot be attributed solely to accumulation, Darkfost said the scale of the activity suggests that a meaningful portion of the transferred ETH is likely tied to investors building longer-term positions.

Source: CryptoQuant