Ethereum (ETH) Reaches $1,680 as Exchange Reserves Plummet to Historic Lows

Key Highlights

• Ethereum climbed 2.87% to reach $1,680 in a strong late-day rally on June 11, 2026.
• Exchange reserves of ETH have fallen to an unprecedented low of 14.5 million tokens, according to CryptoQuant.
• More than 6 million ETH have been withdrawn from exchanges over the last 2.5 years.
• The Ethereum network is processing over 1.3 million daily active addresses, surpassing previous bull cycle records.
• Technical analyst Ali Charts identified $700 as a potential long-term bottom using the Ethereum Delta Price indicator.

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Ethereum began trading on June 11 during the Asian session at $1,628 before mounting a sustained recovery that elevated the asset to $1,680 by day’s end.

Ethereum (ETH) Price

According to CoinMarketCap, ETH registered a 2.87% increase during the 24-hour trading window. The session experienced volatility in its early hours, with the price momentarily dropping beneath $1,620 before discovering solid support.

Following this low point, demand materialized and propelled the price consistently upward. ETH broke through $1,640, subsequently $1,660, before an aggressive late-session surge momentarily pushed it toward $1,690. The cryptocurrency concluded the day near $1,680, approaching its daily peak.

This price movement coincided with Ethereum exchange balances reaching their lowest point on record. Data from CryptoQuant indicates that only 14.5 million ETH currently remains on centralized exchanges, a significant decrease from approximately 20 million ETH throughout most of 2024.

Exchange Balances Hit Unprecedented Lows

Withdrawals have been documented across prominent platforms including Binance and Coinbase. Market participants have transferred ETH into staking protocols, self-custody wallets, and institutional treasury reserves.

BitMine currently holds more than 5.5 million ETH following a $250 million capital injection in 2025. SharpLink similarly maintains 868,699 ETH in its corporate holdings.

Back in October 2023, exchange holdings stood at 21 million ETH. Since that time, over 6 million ETH have exited exchanges. During periods of market turbulence, exchanges traditionally experience net inflows — yet this pattern has notably reversed.

On-Chain Engagement Reaches Peak Levels

Beyond price movements, the Ethereum network is experiencing unprecedented utilization levels. Daily active addresses have consistently exceeded 1 million and recently climbed above 1.3 million.

By comparison, active addresses reached 720,000 in 2018 and approximately 800,000 during the peak of the 2021 bullish cycle. Present levels substantially exceed both historical highs.

Crypto analyst Ali Charts shared on X that Ethereum is “entering what I believe could be one of the best long-term accumulation zones.” Ali Charts additionally highlighted the Ethereum Delta Price indicator, which has successfully identified the previous two market cycle bottoms. Based on this analytical framework, a potential bottom formation near $700 has been identified — a threshold the metric designates as a substantial accumulation opportunity.

As of this writing, ETH was changing hands near $1,680.

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