Ethereum Exchange Holdings Plummet to Record Low

Ethereum exchange holdings have hit a record low of 14.5 million ETH, according to recent data from CryptoQuant.

This means that there is less Ethereum available on exchanges like Binance and Coinbase, which are typically more likely to be sold. Coins moved to corporate treasury wallets or staking contracts, however, are effectively removed from market circulation.

The decline in exchange balances has been steep since July 2025, with holdings dropping sharply after staying around 20 million ETH for most of 2024. This period also coincides with companies' Ethereum treasury strategies gaining momentum.

CryptoQuant notes that the record low in exchange balances is not necessarily a bottom signal, but rather an indicator pointing to increased volatility. If demand does not revive, prices may not rise on thinner circulating supply alone.