In February, over 31 million ETH flowed out of the trading platform, and Binance balance dropped to the lowest level since 2020

According to CryptoQuant data, over 31 million ETH flowed out of centralized trading platforms in February, the largest monthly outflow since November last year. Among them, Binance has released about 14.45 million coins, OKX has released about 3.83 million coins, and Kraken has released about 1.04 million coins. Binance platform's ETH reserves have dropped to approximately 3.46 million, the lowest level since 2020. Hyblock data shows that the cumulative trading volume of small buy orders is about 95 million US dollars, while the net sell in the large trade range is significant. Open interest contracts have decreased from nearly $10 billion to approximately $9.41 billion, and leverage has been reduced. Analysis suggests that if the accumulation of individual investors and the selling pressure of large investors slow down, the price of ETH may further fluctuate due to the contraction of supply on trading platforms.