CryptoQuant analyst Darkfost posted on X that Binance’s ETH monthly average withdrawal transaction count has exceeded 90,000, reaching the highest level since 2023—about double that at the beginning of the year. Over the past 3 months, the ETH price rose from $1,510 to $2,650, an increase of more than 75%. He believes that the increase in withdrawals may reflect investors moving the ETH they bought into private custody for long-term holding.