Ethereum’s total supply held across all exchanges has declined to roughly 15.5 million coins, its lowest reading in years, representing a 38% drop from the May 2023 peak. The MVRV ratio now sits near 1.05, above its 160-day moving average, a bullish crossover that occurred in the second half of August, ending a nine-month negative phase. ETH trades at $2,464.81, down 0.87% over 24 hours, with a market capitalization of approximately $300.8 billion. Price holds above the 0.618 Fibonacci retracement at $2,438.85, a level that could prove decisive support ahead of a possible move toward $2,919.89, roughly 18% higher.
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