Ethereum exchange reserves hit 2016 low – As Bitmine adds another $11.22M ETH

Ethereum [ETH] exchange reserves dropped to their lowest levels since 2016, raising hopes of a supply-driven recovery despite the prevailing market weakness. According to CryptoQuant Community insights, the total ETH exchange reserves declined to roughly 14.5 million ETH on November 2. This decline reportedly marked a 58.6% reduction from the 2020 peak of 35 million ETH. Over that period, the exchanges have in fact lost around 20.5 million ETH from their cumulative balances. Notably, Binance registered a similar drop, with reserves falling 37.1% from their 2025 peak of 4.9 million ETH, with its holdings reaching 3.08 million ETH, revisiting levels last seen in late 2020. It is also worth noting that the reserve drop also coincided with reports of Binance's October 29 hack, which allegedly caused significant losses.

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