Ethereum reserves on exchanges fell to approximately 14.5 million ETH on November 2, a level last recorded in 2016, compared with a peak of roughly 35 million in 2020. Binance held 3.08 million ETH, representing 21.2% of total tracked reserves, after a 37.1% decline from its 2025 peak. The reduction leaves less ETH readily available for selling and could amplify the impact of renewed buying, although it does not guarantee a price increase. Crypto Patel said ETH, trading around $2,245, is approaching an important decision zone and favors an accumulation range between $1,800 and $1,900, with long-term targets ranging from $2,700 to $10,000. At the same time, US spot Ethereum ETFs recorded their worst month since launch, with $1.61 billion in outflows in October, followed by $139.8 million in withdrawals on November 2.
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