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Binance ETH Reserves Jump as BitMine Tightens Supply, Leaving Ether Near $3,000

Rising exchange supply clashes with staking-led supply tightening, leaving direction uncertain.

Overview

  • CryptoQuant reports nearly 8.5 million ETH flowed into Binance in December, lifting its reserves to about 4.17 million and increasing tradable supply.
  • BitMine says it holds roughly 4.11 million ETH—about 3.4% of circulating supply—after late-December purchases and a ~$1 billion staking batch of 342,560 ETH.
  • Ether remains range-bound just below $3,000 in thin holiday trading as analysts warn that concentrated exchange balances could heighten volatility.
  • U.S. crypto ETFs took in about $32 billion in 2025, including roughly $9.6 billion into Ether funds and $21.4 billion into Bitcoin funds, with demand slowing in December.
  • Ethereum’s 2025 fee cuts reduced burn and mainnet revenue even as on-chain activity expanded, contributing to ETH ending the year down roughly 10%.