After a disastrous outing in the first quarter of 2025, Ethereum prices rose to a strong revival performance in the next three months. The price has dropped slightly in recent weeks, but the acclaimed “King of Altcoins” is in a much better position than it was three months ago.
However, the latest on-chain revelation shows that Ethereum’s recently discovered position is at risk. Recent data shows that ETH investors appear to be moving tokens away from long-term storage, rather to centralized trading platforms.
A bullish perspective on ETH rise is reserved in Binance
In a post on the Cryptoquant platform’s Quick Take, on-chain analyst Borisvest shared that Ethereum has been swollen over the past few weeks, holding Binance, the world’s largest exchange by trading volume. According to Crypto Pundit, the exchange currently holds more than 4% of ETH’s total circulation supply.
Data from Cryptoquant shows that Ethereum reservations for Vinance have not risen to this level since May 2023. Typically, the flow to centralized exchange of ETH tokens (usually providing trading services) suggests that assets are placed so that they are sold to off-road or open markets.
Thus, the recent surge in Ethereum reserves in Vinanence is a bearish signal in ETH prices, as it shows imminent sales pressure. This means that this trend can exacerbate continuous price corrections and trigger the onset of downward price movements.
Source: CryptoQuant
However, Borisvest also painted a bullish picture of Ethereum prices based on this on-chain observation. “If these ETH transfers are positioned ahead of potential gatherings and prices are held firmly despite increasing reserves, they could indicate strong underlying demand or strategic positioning by whales,” the analyst said.
Additionally, Borisvest said that when Ethereum last rose to this level, ETH prices fell from $1,900 to around $1,600. However, this short price adjustment was followed by a sharp and rapid rally.
Analysts at the chain also pointed out that ETH prices have not seen any major downward movement since Binance’s reserves began to rise, suggesting price resilience from Altcoin. Ultimately, Borisvest urged investors to stay vigilant as these recent exchange movements could trigger the next move in Ethereum prices.
Ethereum prices are at a glance
At the time of writing, the ETH token is valued at around $2,516, reflecting a 0.4% price increase over the last 24 hours.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
ISTOCK featured images, TradingView chart
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