Binance took in $1.023 billion worth of Ethereum across three days last week. The influx happened while ETH traded sideways since early May. This pattern suggests traders are anxious.
The May Inflows
On May 6, the exchange got 216,152 ETH. That was $511 million then. Two days later, another 98,552 ETH arrived. This meant $224 million more. By May 9, $288 million in ETH moved in. Each transfer came during price dips. It was emotional selling, not smart moves.
Reserves Signal Caution
Binance holds 3.62 million ETH now. That’s 24.6% of all exchange reserves. Big reserve builds usually mean bearish sentiment. Sellers flood in when prices dip. This isn’t new. The market feels stuck.
Current Price Trap
Ethereum can’t break $2,450. It hasn’t cleared $2,250 since early May. Traders are waiting. Thursday’s price was $2,329. Just 0.6% up in 24 hours. Zero urgency here. The range squeezes on. It’s draining stamina.
Breaking $2,450 is the next real test. Watch for reserve drops if it finally moves. This stall won’t last forever.
