The total volume of Ethereum held on exchanges has decreased to approximately 15.5 million coins, marking a multi-year low. This figure represents a decline of about 38% from the peak of 25.2 million recorded in May 2023.
The MVRV ratio for Ethereum currently stands at 1.05, which is above its 160-day moving average of 0.88. This crossover, occurring in late August, ended a negative momentum phase that persisted for nine months since November 2025.
Ethereum is currently trading at $2,464.81, reflecting a 0.87% decline over the past 24 hours and a total market capitalization of approximately $300.8 billion.
The asset is holding above the 0.618 Fibonacci retracement level of $2,438.85, which previously acted as resistance between March and May. Analysts note that a sustained position above this level could target $2,919.89, while a drop below it leaves support at $1,980.
