313K Ethereum Leaves Exchanges After Binance Hack, Supply Share Drops

Ethereum's coins are packing up and leaving the exchanges. Roughly 313,000 ETH walked out of top exchange addresses on November 1–2, right after withdrawals resumed, according to Santiment. On-chain watchers flagged it as a notable shift in where ETH actually lives.

The share of ETH's supply sitting on exchanges slid to 3.20%, Santiment's data shows — that's 0.36 percentage points below the 3.56% level from before the move. In plain terms, the pool of coins parked on trading platforms got noticeably smaller, and the Binance hack is what set it off.

Withdrawals came back online after the hack, and holders moved quickly. Coins that had been idling on exchange balances suddenly looked a lot less comfortable there. Once ETH is pulled into self-custody, it's no longer one click away from a sell order.

Exchange balances are a number traders track for a reason. The less ETH sitting on venues, the thinner the readily sellable supply looks on paper. This drain was fast, concentrated into a two-day window rather than a slow bleed.

The data doesn't break down which venues lost the most beyond the Binance shadow. What's clear is the headline: 313,000 ETH off exchange addresses in 48 hours, and an exchange-supply share that keeps thinning.