As Ethereum withdrawal activity reached a multiyear high, Binance, the biggest cryptocurrency exchange in the world by trading volume, saw a dramatic increase in weekly withdrawals.
DefiLlama data shows that Binance’s net withdrawals for the week of June 29 were $1.23 billion, up 207% from nearly $400 million the week before. The monthly net outflows were over $3.2 billion.
With over 166,000 withdrawal transactions in a single day, Binance’s Ethereum withdrawal transactions reached their greatest level in over three years, according to a separate analysis on Friday by CryptoQuant community analyst Darkfost.
Darkfost identified short-term market positioning and legal uncertainty resulting from the European Union’s Markets in Crypto-Assets Regulation (MiCA) as potential drivers, even if part of the movement may be due to accumulation behavior.
According to CryptoQuant statistics, Ether saw a slight bounce of almost 10% over two days, coinciding with the largest spike in withdrawal transactions on Binance since March 2023.
Binance ETH withdrawing transactions hit a 3-year high
“Binance logged more than 166,000 withdrawal transactions in a single day, a level not seen in over 3 years.” – By @Darkfost_Coc
Full analysis ⤵️https://t.co/OYO4Id7bKZ pic.twitter.com/VawmvJd1Km
— CryptoQuant.com (@cryptoquant_com) July 3, 2026
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