Ethereum exchange flows diverged sharply on September 10, just ahead of the U.S. CPI release, with Bitfinex recording roughly $495 million in positive ETH netflow while Binance and OKX moved firmly in the opposite direction.

The Bitfinex reading was its highest since February 2, 2025, when positive netflow reached about $365 million. The latest figure is therefore roughly 36% higher than that previous reference point.

Meanwhile, Binance recorded approximately $244 million in net outflows, while OKX posted about $99 million in net outflows, bringing their combined total to roughly $343 million.

Binance's September 10 outflow was around 22% larger than the $200 million outflow recorded on June 5. OKX's reading was close to its June 5 outflow of approximately $97 million.

The cross-exchange divergence is particularly notable: Bitfinex's $495 million inflow was about 44% larger than the combined $343 million outflow recorded across Binance and OKX.

Positive exchange netflow indicates that more ETH entered an exchange than left it, while negative netflow reflects net withdrawals. These movements, however, do not by themselves reveal whether the assets were intended for selling .

The timing adds relevance as markets head into the U.S. CPI release.

With ETH trading near $2,450, the key takeaway is the unusually wide split between major exchanges: Bitfinex recorded its strongest ETH inflow in roughly 19 months while Binance and OKX simultaneously saw $343 million in combined net outflows.

Written by Amr Taha