Ethereum price reaches $1,680 as exchange supply drops to 14.5 million ETH

During today’s Asian trading session, Ethereum price opened at $1,628.

The opening price was at lower levels before the channel turned and followed an upward trend of highs and lows. This opening price has market participants thinking about the next targets as the exchange supply reaches lower levels.

Ethereum price jumps 2.87% as a late rally took the price to $1,680

Tracking the ongoing price trend at the time of writing, CoinMarketCap data reveals that Ethereum price was trading at $1,680.01, recording a 2.87% gain over the past 24 hours. The chart showed a choppy session that developed into a broader uptrend. Price activity remained under pressure during the first hours, with Ethereum falling below the $1,620 area before finding support and stability. After this decline, the market gradually recovered and regained lost ground through a steady series of higher moves.

source: CoinMarketCap

Momentum strengthened during the morning as Ethereum crossed the $1,640 level and continued to move higher. The advance was extended through several intraday swings, with the price maintaining a generally positive structure despite short pullbacks. By midday, Ethereum price It traded near the $1,660 area and held most of its gains. The trend remained constructive throughout the afternoon, although price movements became more variable and ranged within a relatively narrow range.

Later in the session, Ethereum price briefly retreated from local highs and fell towards the mid-$1,630 region. This decline was temporary as the market trend reversed sharply towards the end of the period. A strong late-session rally lifted Ethereum price above previous intraday levels and prompted a quick breakout towards $1,690. The price then retreated slightly from that peak and settled at around $1,680, ending the session near the highs of the day.

Ethereum exchange supply has fallen to a record low of 14.5 million ETH

The current one Ethereum price This trend comes as Ethereum exchange reserves have fallen to a record high of 14.5 million ETH, according to CryptoQuant data. The decline began around July 2025 and has continued without a sustained recovery. This decline came as investors transferred coins into signature contracts and private wallets. CryptoQuant data shows that exchange balances remained near 20 million ETH through most of 2024.

However, withdrawals accelerated in July 2025 and pushed reserves lower. “Exchange reserves continue to decline at a rapid pace,” CryptoQuant’s commentary stated. The metric tracks ETH held on trading platforms and available for spot trading. The data shows outflows from major exchanges, including Binance and Coinbase. As a result, the visual supply on exchanges fell to its lowest level on record.

Investors also moved more ETH into staking contracts during the same period. These locked balances remain outside of spot trading activity. Therefore, staking reduced the amount of Ethereum available on exchanges. Corporate treasury activity increased the decline in stock market holdings. BitMine has expanded its position in ETH following a $250 million capital raise in 2025. Market reports show that BitMine holds more than 5.5 million ETH. Sharp Link It also holds 868,699 ETH in its treasury structure.