Ethereum Exchange Liquidity Slips to Seven-Month Low, and Bulls Are Paying Attention

Ethereum exchange liquidity has dropped to a seven-month low, according to CryptoQuant analysts. Binance's ETH reserves fell to 3.47 million coins, the lowest in six months and down 11.5% from 3.92 million in August, pointing to tokens moving off exchanges into private wallets. Price action remains soft. ETH slid from about $2,700 on Oct. 6 to roughly $2,410 on Oct. 9 before edging back to near $2,527, leaving it down 6.4% over the past seven days.