Ethereum (ETH) Price: Bulls Take Control as Exchange Supply Vanishes to Record Lows

TLDR

Table of Contents

Ethereum exchange supply has dropped to a historic low of 4.9% of total supply
Nearly 1 million ETH withdrawn from exchanges in the past month
ETH price up 7-8% in 24 hours, trading around $2,560-$2,570
Ethereum Foundation announced new leadership with Co-Executive Directors
Technical analysts point to a potential “Golden Cross” pattern, suggesting bullish momentum

Ethereum has seen a remarkable price surge over the past 24 hours, climbing by nearly 7% and breaking through the $2,550 level. This rise comes amid a series of developments that have strengthened investor confidence in the second-largest cryptocurrency.

On-chain data reveals that Ethereum’s exchange supply has reached its lowest point in history. According to blockchain analytics firm Santiment, less than 4.9% of the total ETH supply now sits on exchanges.

This metric is important for traders and investors as it typically signals reduced selling pressure.

Over the past decade, the amount of ETH held on exchanges has decreased by a massive 15.3 million coins.

The trend has accelerated recently, with crypto analyst Ali Martinez noting that nearly 1 million ETH have been withdrawn from exchanges in just the past month.

This exodus from exchanges often indicates that investors are moving their holdings to personal wallets for long-term storage rather than keeping them ready to sell.

Bullish Technical Signals

The current price action has attracted attention from technical analysts. Crypto Patel highlighted the formation of a “Golden Cross” pattern on Ethereum’s 12-hour chart – a bullish indicator that occurs when a short-term moving average crosses above a long-term moving average.

🚨 CHART ALERT: $ETH just flashed a GOLDEN CROSS on the 12H after months of bleeding!
Last time we saw a DEATH CROSS, #Ethereum crashed -57%.
Now it's doing the opposite — this could be the start of a massive pump! 🚀
TARGET? Maybe $3,800-$5000+ soon! 📈 pic.twitter.com/Fe648YIyi1
— Crypto Patel (@CryptoPatel) May 19, 2025

Based on this pattern, some analysts project potential ETH price targets between $3,800 and $5,000.

Ethereum’s market capitalization has now crossed $300 billion, with the token currently trading around $2,570.

The futures market also shows growing interest, with Ethereum futures open interest increasing by 7% to more than $31.24 billion.

In the past 24 hours, liquidations have reached $91.6 million, with $59.6 million coming from short positions being liquidated – suggesting that bearish bets are being squeezed out of the market.

Leadership Changes Boost Confidence

Adding to the positive sentiment, the Ethereum Foundation recently announced changes to its leadership structure. Hsiao-Wei Wang and Tomasz K. Stańczak have been named as new Co-Executive Directors.

This restructuring, which includes a newly appointed President, has been viewed as a step toward strengthening the foundation’s management and decision-making processes.

The news has been well received within the Ethereum community, with many seeing it as a sign of renewed focus and direction for the network.

While Ethereum has shown strong performance, other cryptocurrencies have lagged behind. Bitcoin posted a smaller daily gain of 1.83%, while other altcoins recorded even more modest increases.

For traders watching technical levels, Ethereum is approaching resistance between $2,523 and $2,690. A break below $2,464 could signal that the current rally has reached its limit.

The current market structure remains somewhat uncertain, leaving room for either continued upward movement or a corrective phase in the near term.

For now, the combination of reduced exchange supply, positive price action, and organizational changes has positioned Ethereum as a standout performer in the cryptocurrency market.

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