Ethereum may be In fact there is performance All other cryptocurrencies, and On-chain data will be displayed This is likely due to a series of buildups in the backend. Ethereum recently bounced $3,730, raising prices above $3,800, and inspired optimism that it could make another attempt towards $4,000.
Interestingly, while this unfolds, data from the encryption of on-chain analytics platforms shows that whales’ wallets steadily absorbed ETH supply throughout July, effectively pushing crypto exchange supply to the lowest point in nine years.
Exchange Reserves plummet to 2016 levels
Currently, many technical and chain foundations line up for Ethereum, but perhaps the most notable development is the decline in Ethereum’s exchange reserves. Data on the chain shows that ETH held on the centralized trading platform has fallen to a level not seen since 2016, bringing its new nine-year low. This reduction in reserves is important as Ethereum relays a decrease in sales pressure on top of the demand it is currently witnessing.
As shown in the chart image below, the exchange’s total Ethereum Reserve has been in free fall since the beginning of 2025. At the time of writing, the total Ethereum Reserve for Crypto Exchange is ETH of 18.7 million.
Large whale purchases show confidence
Ethereum’s exchange reserves don’t just fall by accident. They exist It is actively drained by whales. According to data from on-chain transaction tracker Lookonchain, major investors have been actively purchasing ETH in recent weeks.
A total of 11 newly activated wallets have collectively accumulated 722,152 ETH since July 9th, worth $2.77 billion. Interestingly, LookonChain recently I’ve paid attention to those three These wallets scoop up an additional 73,821 ETH. This is worth around $283 million. Another whale address, “0xf436”, I retreated 14,520 ETH, worth around $53 million from the exchange in the last nine hours.
That’s how accumulation is It spreads to many sources, Including Falconx, Kraken, Galaxy Digital OTC and Binance, Falconx accounts for the three largest single wallet purchases. One of these wallets received over 138,000 ETH, worth more than $531 million between July 18th and July 23rd.
Supporting the bullish outlook is a massive purchase by Ether Reserve LLC, the financial management unit of ether machines. in Recent announcements linked Celebrating Ethereum’s 10th anniversary, the company has disclosed the acquisition of around 15,000 ETH, worth around $56 million. This will bring the total holdings to approximately 334,757 ETH, plus an additional $407 million allocated for Ethereum purchases.
With more capital commits to ETH this way, with exchange reserves near historic lows Conditions for the meeting The new all-time high appears to have fallen into place. At the time of writing, Ethereum has declined 5.5% over the last 24 hours, trading at $3,485.
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