On Nov. 2, Ethereum whales shifted from selling to aggressive accumulation, with one major buyer purchasing $38 million in ETH amid market volatility. ETH attempted to stabilize after a sharp correction, while the market showed a divide between whale accumulation and cautious U.S. buyers. Network fees reached their highest levels of 2026 and multi-year highs following a security breach at Binance. On Nov. 3, Binance’s ETH reserves were 37.1% below their 2025 peak, and exchange supply reached a decade low.
CryptoQuant said exchange balances have fallen 58.6% from their 2020 peak, while Binance reserves alone are down 37.1% from their 2025 high.
Read the full storyFees reached their highest level on CryptoQuant’s chart since February, while Binance raised coverage of affected assets to about 95% and gradually resumed withdrawals.
The purchase came as the currency’s close gradually recovered from its Oct. 30 low, while remaining below the average purchase price at the Nov. 2 close.