Ethereum held on centralized exchanges fell to a multi-year low by October 9, 2026, even as ETH dropped more than 7% over the preceding week. CryptoQuant put the 30-day simple moving average of ETH reserves across all exchanges at 14,742,387.9. Falling exchange balances track a reduction in visible supply, but do not, on their own, indicate which way prices will move.
Exchange reserves down 30.21% since July 2025
CryptoQuant data shows that the 30-day average of ETH reserves across exchanges stood at 21,124,548.6 on July 18, 2025. By October 9, 2026, it had declined by 6,382,160.7 ETH, or 30.21%, to about 14.74 million.
Exchange-reserve figures measure the ETH held on trading platforms. A decline can reflect users moving coins to self-custody, but can also result from transfers between platforms and other factors. The data can help track the supply visible on exchanges; it does not by itself show that demand has increased.
Binance reserves fall by more than 256,000 ETH
Binance was one of the main contributors to the broader decline. At the time of publication, its 30-day average ETH reserves were 3,574,345.43, down from 3,830,533.22 on August 1, 2026. That was a decrease of 256,187.79 ETH, or 6.69%.
As one of the leading crypto exchanges by trading volume and registered users, Binance’s balance carries significant weight in exchange-wide reserve figures. The available data does not show whether all of the ETH leaving Binance moved into long-term holdings or self-custody, nor does it identify the holders involved.
ETHA draws about $2.468 billion over four months
The reserve decline coincided with institutional inflows into Ethereum-linked products. Data from SoSoValue shows that BlackRock’s iShares Ethereum Trust ETF (ETHA) attracted about $2.468 billion in cumulative net cash inflows over the past four months, making it a significant source of ETH-related investment flows during that period.
ETH’s time frames tell different parts of the story. Despite falling more than 7% in the week to October 9, the token was up nearly 14% from its level several months earlier, amid a recovery in institutional demand. ETH was trading at about $2,490.91 at the time of publication.
The latest figures show exchange balances declining, net inflows into ETHA and a recent pullback in ETH’s price. They do not establish a direct cause-and-effect relationship between those movements. Exchange reserves, ETF flows and price performance remain separate indicators to track.