Binance Goes All-In on Ethereum at Yearly Highs—So Why Isn’t ETH Pumping?

Binance’s massive ETH accumulation and U.S. institutional buying should’ve sent Ethereum soaring. Instead, it’s stuck in neutral—classic crypto.

The Whale Moves No One Noticed

While retail traders chased memecoins, Binance quietly stacked Ethereum at yearly highs. U.S. funds doubled down too. Yet ETH’s price? Barely a flicker.

Liquidity Black Hole or Just Wall Street Playing Games?

Either the market’s drowning in sell pressure, or big players are suppressing prices for accumulation. Again. Because nothing says 'decentralized' like hedge funds manipulating your bags.

The Cynic’s Take

Maybe Ethereum’s real utility is giving traders false hope while institutions get richer. At least the gas fees are predictable—predictably outrageous.

Ethereum floods Binance

Ethereum’s Exchange Reserve on Binance surged past 4.9 million, the highest level seen since May 2023.

Source: CryptoQuant

That’s over 4% of ETH’s total circulating supply now sitting on a single exchange.

Source: CryptoQuant

This kind of spike is often linked to incoming selling pressure. Historically, growing reserves on centralized exchanges like Binance have preceded price corrections.

Yet this time, the price hasn’t buckled.

Despite the reserve spike, ETH stayed relatively stable around $2,590. That kind of resilience is a sign that buyers might be absorbing the sell-side pressure or that whales are gearing up for something bigger.

Either way, this is no ordinary supply shift.

The case for a bullish breakout

Source: CryptoQuant

While Binance reserves surge, U.S. investor appetite appears to be on the rise; so not all ETH moving to exchanges is destined for sell orders.

The Coinbase Premium Index has held mostly positive through June and early July, showing stronger spot demand on U.S. platforms compared to international ones.

This often reflects buying pressure from institutional or high-net-worth investors.

Source: SoSoValue

Backing this up, ETH spot ETF net inflows are gaining pace again, with $148 million in Daily Inflows on the 3rd of July, and Total Net Assets now exceeding $10.8 billion.

These strong inflow trends suggest accumulation, not panic selling — possibly absorbing the Binance supply surge.

Technicals stay neutral, markets wait for a trigger

At press time, ETH traded at $2,521, showing muted price movement despite on-chain and ETF activity. The RSI hovered around 52, reflecting neutral momentum.

The MACD line recently crossed above the signal line but stayed below zero; a potential early bullish crossover lacking strong conviction.

Source: TradingView

Meanwhile, the OBV sat at 9.97M, showing no major shift in buying or selling volume. Without a decisive breakout or breakdown, ETH looked to be consolidating, possibly preparing for its next big move.