$2.3 Billion Ethereum Has Left OKX And Binance This Quarter: The Sell-Side Supply Is Thinning

$2.3 billion in Ethereum has been withdrawn from OKX and Binance this quarter, with OKX seeing a record $1.67 billion single outflow on March 22. This supply reduction off exchanges suggests thinning sell-side liquidity despite ETH's continued bearish price structure below $2,000.

• →A single $1.67 billion ETH withdrawal from OKX on March 22 marked the largest single withdrawal event of the quarter.
• →Binance recorded two separate outflows exceeding $300 million each in early February within 48 hours.
• →Large-scale ETH withdrawals across multiple exchanges indicate supply moving to cold storage and staking, reducing immediate sell pressure.
• →Despite reduced exchange supply, ETH remains in a six-month downtrend with price trading below all major moving averages.
• →ETH is currently trading at $2,079, down 4.13% on the day, with bearish technical structure still intact.