Binance ETH Withdrawals Hit 3-year High, Ethereum reclaims $2,700

Ethereum traded above $2,700 on a 6% daily gain as Binance withdrawal transactions hit their highest monthly average in three years, crossing 90,000, about double the reading at the start of 2026.

CryptoQuant called the rise "fairly sudden" and said the on-chain pattern suggests accumulation: holders moving ETH off exchanges into private wallets or custody rather than keeping it available for trading. The firm noted Ethereum's accumulation trend currently appears stronger than Bitcoin's, which has struggled to hold above its May high.

The withdrawal print landed against a sharp three-month move. Ethereum has risen about 80% from $1,510 and pushed above its April high during the rally.

What the chart says

Crypto Patel sees $2,715 to $2,900 as the next upside zone, with $2,360 as the level that keeps the bullish setup intact. The analyst's higher-timeframe structure turned bullish after strong buying emerged around the $2,300 demand area and ETH reclaimed the $2,483 to $2,584 fair value gap. A larger resistance band sits between $3,070 and $3,404.

On the downside, $2,300 is the structural support to watch. The $1,647 to $1,744 range becomes relevant only if the current market structure breaks.

The ETF counterweight

Spot accumulation and fund flows moved in opposite directions over the same window. U.S.-based Ethereum ETFs posted $141.4 million of outflows Tuesday, $224.1 million Wednesday and $39.2 million Thursday, against $121 million of inflows Monday and $143.8 million Friday, leaving the five-day sequence net negative. CryptoPotato reported August ETF inflows had fallen below $190 million.

The split: stronger withdrawal activity on Binance while US spot ETH funds bled for three straight sessions, the same week Ethereum pushed back through $2,700.