According to CryptoQuant data, Ethereum reserves have fallen to its lowest level in three years on central markets. Since the highest level of around 28.8 million ETH in September 2022, the holdings have therefore been reduced by almost 10.7 million ETH.

The ETH reserves on Coinbase, Kraken and Co. now stand at around 17.4 million ETH Zurich, with about 2.5 million ETHs leaving the exchanges in the last three months alone.

According to CoinGlass, the spot ETH ETFs, which were published in 2024, have since recorded net inflows of more than 13 billion US dollars, which were issued in 2024. Of this, more than 10 billion US dollars will be sold in June to August this year.

The Ethereum Treasures companies are also driving demand. The race is currently led by Tom Lees Bitmine Immersion Technologies (around 1,800,000 ETH) and Joe Lubin’s SharpLink Gaming (around 800,000 ETH).

In the market update of the Derive.xyz on-chain option exchange, ETH is awarded an “explosive potential for the fourth quarter”. Derive founder Nick Forster explains: “SERs [Strategic Ethereum Reserves] now hold almost 4 percent of the entire ETH offer and quickly pick up to the 5.5 percent held by ETFs.”

In view of the expected interest rate cuts, its ETH holdings could reach 6-10 percent of the ETH offer by the end of the year.

However, Derive also pointed out that an early explosion of ETH is not set in stone. The momentary impatility for ETH options fell from 75 percent to 63 percent last week. This suggests that the markets are “pricing a steadier, gradual price,” the analysis says.

According to the company’s calculations, ETH has a 30% chance of reaching 6,000 US dollars by the end of October. By the end of the year, the prospects for this course were 44 percent.

Individuals also continue to hold significant amounts of ETH. These are the worthiest of ETH holders at a glance.