Ethereum price hits $1,680 as exchange supply drops to 14.5M ETH

During today’s Asian trading session, Ethereum opened at $1628.

The opening price was at lower levels before the channel turned and traced an upward trend of highs and lows. This opening price has made market participants weigh in on the next targets as exchange supply hits low levels.

Ethereum price jumps 2.87% as late rally lifts price to $1,680

Tracking the ongoing price trend at the time of press, CoinMarketCap data reveals that Ethereum traded at $1,680.01, posting a 2.87% gain over the past 24 hours. The chart showed a volatile session that developed into a broader upward trend. Price activity remained under pressure during the early hours, with Ethereum falling below the $1,620 region before finding support and stabilizing. After that decline, the market gradually recovered and reclaimed lost ground through a steady sequence of higher moves.

Source: CoinMarketCap

Momentum strengthened during the morning period as Ethereum pushed above $1,640 and continued climbing. The advance extended through several intraday swings, with price maintaining a generally positive structure despite short pullbacks. By midday, Ethereum price traded near the $1,660 area and held most of its gains. The trend remained constructive throughout the afternoon, although price movements became more uneven and ranged within a relatively narrow band.

Later in the session, the Ethereum price briefly retreated from local highs and moved lower toward the mid-$1,630s. The decline proved temporary as the market reversed sharply near the end of the period. A strong late-session rally lifted the Ethereum price above previous intraday levels and drove a rapid breakout toward $1,690. Price then eased slightly from that peak and settled around $1,680, ending the session near its highest levels of the day.

Ethereum exchange supply drops to a record low at 14.5 million $ETH

The ongoing Ethereum price trend comes at a time when Ethereum exchange reserves have fallen to a record low of 14.5 million $ETH, according to CryptoQuant data. The decline began around July 2025 and has continued without a sustained recovery. The drop came as investors moved coins into staking contracts and private wallets. CryptoQuant data shows exchange balances stayed near 20 million $ETH through most of 2024.

However, withdrawals accelerated in July 2025 and pushed reserves lower. CryptoQuant commentary stated that “exchange reserves continue to decline at a fast pace.” The metric tracks $ETH held on trading platforms and available for immediate trading. Data shows outflows from major platforms, including Binance and Coinbase. As a result, the visible supply on exchanges dropped to its lowest recorded level.

Investors also moved more $ETH into staking contracts during the same period. These locked balances remain outside immediate trading activity. Therefore, staking reduced the amount of Ethereum available on exchanges. Corporate treasury activity added to the decline in exchange holdings. BitMine expanded its $ETH position after a $250 million capital raise in 2025. Market reports show BitMine holds over 5.5 million $ETH. SharpLink also holds 868,699 $ETH in its treasury structure.