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ETH 
TRX The Ethereum exchange balance fell to a low of nearly 10%, and the price remained hovering around $1900.
The Ethereum (ETH) exchange balance has dropped nearly 10% since January this year, but as the second-largest cryptocurrency, its price is still firmly locked around $1900.
Key Points:
So far this year, the exchange's total reserves have been reduced by approximately 1.74 million Ethereum units.
Bindian's stablecoin deposits are shifting from wavefield to Ethereum.
In the week ending August 7, the net inflow of spot Ethereum funds was approximately US$245 million.
The reserves of the Ethereum Exchange continue to decrease with the pledge of locked coins.
On-chain data shows that the exchange's total reserves are currently 15.12 million ETH, which is lower than the 16.86 million at the beginning of the year, a decrease of approximately 1.74 million. Deposits and withdrawals by the top ten holders are also below recent averages. Although the 7-day pledge yield is at a three-year low, the pledge ratio has risen to more than 34% of the circulation supply, or approximately 41.4 million ETH.
Exchange-traded funds are also absorbing supply. In the week ending August 7, net inflows of spot Ethereum products were approximately US$245 million, the strongest week since April and the fifth consecutive week of net inflows. BlackRock's iShares Ethereum Trust accounted for more than 80% of the total, increasing the cumulative net inflow of U.S. Ethereum funds to approximately US$11.46 billion.
Stability coin liquidity shifts from wave field to Ethereum
Analyst CryptoOnchain pointed out that there has been a parallel change in the currency installation: in the past 14 days, the total net inflow of stablecoins has been approximately US$87 million per day, but the capital structure that makes up this figure has changed dramatically. Binhang's TRX based TEDA (USDT) reserves fell from US$1.4 billion to US$709 million in about two weeks. The net inflow of USDT based on Ethereum increased by 210% month-on-month, while the net inflow of US Dollar (USDC) increased by 114% during the same period.
This is not a withdrawal of funds from the market. Analysts interpret it as saying that large households and market makers are reallocating collateral into deeper decentralized financial liquidity or preparing for possible fluctuations in Ethereum itself.
Van der Bop: Price ranges fluctuate, waiting for demand to pick up
So far, these factors have not driven price changes. U.S. spot demand, tracked through the Coinbase Premium Index, has been negative since early May, indicating that domestic buyers are not actively chasing gains. Internet activity shows the opposite trend: weekly transactions exceed 20 million, and the deployment of new smart contracts is also increasing.
Michaël van de Poppe described the chart as unchanged, with Ethereum trapped between $1800 and $2000, with volatility near multi-year lows. He believes that a clear breakthrough of US$2000 may open up more room for growth, but the reduction in liquidity alone is not enough to promote a breakthrough.
This stagnation can be a difficult period for holders. Ethereum traded around $2116 at the end of May. It hit an all-time high of about $4953 in August 2025. Its price is now down by more than 60% from its peak. Exchange reserves have been shrinking throughout most of the decline, which is why analysts have always viewed the current squeeze as a condition rather than a trigger.
