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Magyar29 Oct 2026
Ether is down 13.6% in October, on course for its weakest October since 2018. US spot Ether ETFs have lost about $1.35 billion this month, and long-dormant wallets have moved over $140 million in ETH, mostly to Coinbase and Kraken.
Ethereum TradeReviewed News Desk
Ethereum is on track for its weakest October since 2018. ETH is down 13.6% for the month, while US spot Ether ETFs have lost about $1.35 billion and wallets that sat idle for years have moved more than $140 million worth of ETH, according to BeInCrypto.
Early Ethereum wallets wake up
On-chain trackers flagged more than 10 large transfers from long-dormant wallets between October 5 and October 29, together moving about 56,000 ETH. Four of the five largest went straight to Coinbase or Kraken.
The biggest came on October 5, when one wallet sent 13,330 ETH (about $36.4 million) to Coinbase. Its owner reportedly bought 170,000 ETH in the 2015 ICO at $0.31. Lookonchain also reported that pinosaur.eth unstaked 9,618 ETH and deposited it to Kraken, and wallets reportedly linked to the Ethereum Foundation moved about 14,770 ETH over three separate days. On October 29, a wallet idle for three years sent its full 2,119 ETH balance, about $4.99 million, to Coinbase.
An exchange deposit puts coins in position to be sold, but on-chain data cannot confirm that a sale actually happened.
Ether ETF outflows near a record
US spot Ethereum ETFs posted net outflows on 17 of October’s 20 trading days through October 28, per SoSoValue data cited by BeInCrypto. The month’s total of roughly $1.35 billion is the second-largest monthly outflow on record, behind November 2025 at $1.42 billion, leaving October about $78 million short of the record with two trading days left. The heaviest day was October 6, with $201.89 million in outflows.
ETH traded at $2,328.57 at press time, down 0.95% over 24 hours. According to CryptoRank, Ethereum closed 7 of its previous 11 Octobers higher, and its last deeper October drop was in 2018, at 15.5%.
ETH support levels into November
Analyst Ted Pillows said ETH could revisit $2,200, which he sees as a likely bottom zone, and named a reclaim of $2,400 as the first major sign of strength. More Crypto Online expects another leg down while ETH stays below $2,522, with a break under $2,295 as the first signal and support between $2,207 and $1,725. Historically, ETH fell in 6 of 11 Novembers, with a median loss of 5.18% but an average gain of 4.28%.
What it means for traders
Two sources of supply are hitting the market at once: ETF redemptions and old coins arriving on exchanges. Until ETF flows slow down, rallies may struggle. The levels traders are watching are $2,295 on the downside and $2,400 on the upside. Volatility around these zones can be sharp, so position size and stop placement matter more than usual, especially on leveraged products.
If you trade ETH spot or futures, fees and liquidity differ a lot between platforms. Check our crypto exchange comparison, where BingX ranks first and OKX second, and see how we test exchanges.
For information only, not financial advice.
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