Ethereum is trading near $2,492 after bouncing from a session low of $2,442.98. The price moved between $2,442.98 and $2,505.13 over the past 24 hours. Buyers face immediate resistance between $2,500 and $2,505.
ETH supply on all crypto exchanges has fallen to 14,882,226 ETH as of September 8, 2026, according to CryptoQuant. That is the lowest level in several years.
Since July 1, 2025, roughly 6.4 million ETH has been pulled from exchanges. Binance alone has seen its reserves fall to around 3.74 million ETH, a three-month low.
Bitmine added another 28,086 ETH this week, worth approximately $69.44 million. That brings its total holdings to 5,929,198 ETH, valued at about $14.66 billion, representing around 4.9% of Ethereum’s total supply.
Chairman Tom Lee linked Bitmine’s stock performance to broader crypto gains. He said ETH outperformed the S&P 500 by 5,430 basis points from Q3 through last Friday. Lee also ranked ETH among the three best-performing assets since June 30, alongside Bitcoin and Solana.
US spot ETH ETFs have seen roughly $2.345 billion in net inflows since July 1. Total assets held by these products stood at $15.57 billion at time of publication.
Around 43.1 million ETH, or 35.91% of circulating supply, is currently staked. That figure reflects continued long-term commitment from holders.
Daily ETF flows did turn negative on September 8, with outflows of 19,667 ETH worth $48.34 million. However, the seven-day flow picture remained positive at 15,939 ETH, or $39.18 million in net inflows.
Crypto analyst Michaël van de Poppe shared his view on X, saying he “wouldn’t be surprised if we’re seeing a pretty violent move upwards on $ETH from here.” Van de Poppe noted ETH is holding support and suggested a move through the $2,520 area could open a path toward $3,000.
I wouldn't be surprised if we're seeing a pretty violent move upwards on $ETH from here.
It's holding support again, if this tests the $2,520 area and starts to break upwards, maybe we're actually going to see $3,000? pic.twitter.com/D5oSRcB9fx
— Michaël van de Poppe (@CryptoMichNL) September 8, 2026
Analyst Ali Martinez pointed to on-chain data showing a strong support zone around $2,475, where approximately 2.86 million ETH last changed hands. He sees resistance between $2,723 and $2,822, where more than 10 million ETH were previously transacted.
Ethereum is sitting on a major support zone around $2,475, where roughly 2.86 million ETH have previously changed hands.
As long as this level holds, the path toward $2,722 remains relatively clear.
The real test comes between $2,723 and $2,822, where more than 10 million $ETH… https://t.co/kwLrVWl186 pic.twitter.com/ffwai9aOpn
— Ali Charts (@alicharts) September 7, 2026
Daan Crypto Trades noted that the ETH/BTC pair is holding above 0.03, a level he considers critical for the current structure. The pair reclaimed its 200-day moving and exponential moving averages, which sit near 0.0292 and 0.0298.
Capital markets adviser Tom DeMark, who advises Bitmine, expects Ethereum to resume its upward move in the coming weeks based on the August price structure.
ETH/BTC is currently trading near 0.0315, with 0.0320 and 0.0335 as the next levels in focus if 0.03 continues to hold.
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