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Ethereum Exchange Balances Fall to Multi-Month Lows as Staking Reaches New Record

Ethereum's readily tradable supply has tightened on major platforms, supported by declining Binance reserves and record staking participation.

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Ethereum has been consolidating around $2,470 amid signs of tightening liquidity across major trading venues. Data from CryptoQuant indicates that ETH reserves on Binance dropped to roughly 3.74 million ETH, marking a three-month low, while aggregate reserves across major exchanges reached a multi-year low of approximately 14.88 million ETH.

This reduction in exchange-held supply coincided with an all-time high in staking activity. Roughly 43.1 million ETH, representing 35.9% of the token's circulating supply, is currently locked in staking contracts, further restricting immediately tradable liquidity.

Derivatives data reflects a constructive bias among Binance traders. According to CoinGlass, 59.05% of top accounts held long positions against 40.95% in shorts, producing a Long/Short ratio of 1.44 as open interest remained elevated.

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