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Binance Sees Biggest Weekly Outflow in More Than 3 Years

The outflow lines up with the MiCA deadline in the EU, while Binance is scaling back services in several countries and Ethereum withdrawals climbed to their highest level since March 2023.

By Luc Vesters
• 2 min read
Binance Sees Biggest Weekly Outflow in More Than 3 Years

Key Takeaways

  • Binance saw $1.23 billion leave in the week starting June 29, its biggest weekly outflow in more than three years.
  • The outflow came as MiCA took effect, after which Binance is scaling back EU services for users in Poland, Italy, Spain, and France.
  • Ethereum withdrawals on Binance rose to their highest level since March 2023, while ether gained about 12 percent over seven days.

Binance recorded its largest weekly outflow in more than three years last week, while Ethereum withdrawals on the exchange climbed to their highest point since March 2023. The move comes as MiCA rolls out across the European Union, adding new pressure on crypto exchanges operating in Europe.

Outflows Around the MiCA Deadline

According to DefiLlama, Binance saw $1.23 billion (€1.1 billion) leave the platform in the week beginning June 29. That was a 207 percent jump from roughly $400 million (€349 million) the week before. On a monthly basis, net outflows totaled about $3.2 billion (€2.8 billion), though that is still modest relative to the exchange's overall scale.

Binance accounted for about 39 percent of spot volume across major exchanges in 2025, according to CoinGecko. Outflows do not always signal the same thing: some users may be moving assets to a Wallet, others may be repositioning, and some may simply be holding more. Even so, the surge is difficult to ignore given how close it came to the European July 1 deadline.

MiCA requires crypto service providers that want to keep operating in the EU to secure licenses and comply with tighter rules on oversight, transparency, and operational resilience. The rollout is already changing the market, with only a relatively small share of the thousands of crypto firms in Europe having received full approval so far.

Binance Pulls Back in Parts of the EU

Binance said it would not have a MiCA license by June 30. As a result, the exchange is scaling back EU services starting July 1 for users in Poland, Italy, Spain, and France. Earlier, Binance also pulled its licensing application in Greece after reports said regulators had concerns tied to cofounder Changpeng Zhao's role and the aftermath of his U.S. settlement.

According to Gillian Lynch, Binance's head of Europe and the UK, the company is not exiting Europe. Still, the decision underscores how much of an impact MiCA is having on the region's crypto market, where more firms are being forced to adapt or trim services. The licensing pressure also fits into a broader fight with MiCA regulators in Europe.

Ethereum Withdrawals Stand Out

Ethereum was especially notable within the broader outflow. CryptoQuant analyst Darkfost counted more than 166,000 ether withdrawal transactions on Binance in a single day, the highest level since March 2023. The spike came as ether bounced higher, rising about 12 percent over the past seven days to around $1,766 (€1,540).

Exchange withdrawals can suggest users are moving coins into self-custody or planning to hold longer term, but the signal is not always straightforward. In the coming days, the key question is whether the outflow continues now that the deadline has passed. If coins keep leaving, that would point to ongoing accumulation; if they start flowing back to exchanges, it would suggest traders are shifting back into shorter-term positioning.

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