Fun

Ethereum Price Performance Could Hinge On This Binance Metric — Here’s Why

News Feed - 2025-06-09 03:06:33

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.


Over the past few weeks, the Ethereum price has struggled to maintain its bullish momentum from early May. The altcoin has been stuck within a consolidation range, jumping between the $2,500 and $2,700 region.


While the Ethereum price sat mostly above the $2,600 level throughout the past week, a market-wide downturn saw the altcoin’s value fall toward $2,400 on Friday, June 6. While the price of ETH has not fully recovered yet, it has at least managed to reclaim the $2,500 level over this weekend. Binance Realized Price Critical For ETH


In a Quicktake post on the CryptoQuant platform, an on-chain analyst with the pseudonym Crazzyblockk revealed that the Ethereum price exhibited an interesting reaction around the $2,392 price level on Friday. The crypto pundit noted that this reaction is not random, as it occurred at a significant on-chain level — the realized price of Binance user deposit addresses. Related Reading Bitcoin Sees Largest Net Taker Volume Drop Of 2025 – Traders React To Trump-Elon Clash 2 days ago


The relevant indicator behind this on-chain observation is the ETH Realized Price metric, which tracks the average cost basis of holders across different cohorts, including the Binance User Deposit Address, OKX User Deposit Address, Addresses Frequently Received From CEX, and Highly Active Addresses.


Crazzyblockk highlighted the realized prices across these cohorts, with that of the Binance User Deposit Address standing around $2,392; OKX User Deposit Address at $2,706; Addresses Frequently Received from CEX at $2,532; and Highly Active Addresses with a realized price of $2,513.  The chart above shows the realized price of Ethereum for each cohort. | Source: CryptoQuant


As seen during the latest dip, the $2,392 realized price represents a major on-chain support level, as it is the cost basis of several Binance user deposit addresses. “The market’s bounce from this level highlights the impact of Binance user behavior on ETH’s current price structure,”  Crazzyblockk added.


Crazzyblockk also noted that while $2,500 is an average realized price across all the highlighted cohorts, an important detail should not be overlooked — Binance’s influence on the general market. The crypto pundit explained that Binance holds the highest ETH reserves among all centralized exchanges and has strong dominance in ETH on-chain movement.


For this reason, the analyst inferred that the realized price of Binance user deposit addresses ($2,392) is a crucial level to watch in ETH’s market structure. As a result, this level should be considered whenever financial decisions on Ethereum are about to be made.


Finally, most investors would be in profit if Ethereum’s price stays above $2,500, thereby relieving the market of downward pressure, as investors are less likely to sell when in profit. On the flip side, a drop below $2,500 could result in a wave of unrealized losses for the altcoin’s holders, potentially triggering a sell-off and, consequently, an increase in downward pressure.  Ethereum Price At A Glance


As of this writing, the price of ETH stands at around $2,523, reflecting a 1.12% jump in the past 24 hours.  Related Reading Ethereum Stabilizes After Market Drop – Key MA Reclaim Could Trigger A June Rally 2 days ago The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView


  Featured image from Unsplash, chart from TradingView

News Feed

Asset manager says Trump admin may make Bitcoin strategic reserve asset
Vince Quill4 hours agoAsset manager says Trump admin may make Bitcoin strategic reserve assetBitcoin has a supply cap of 21 million, making it an excellent hedge against currency devaluations and geopolitical turmoil.182
US manufacturing firms are flocking to the metaverse — WEF
Ciaran Lyons7 hours agoUS manufacturing firms are flocking to the metaverse — WEFAccording to the World Economic Forum, the automotive, energy, software, aerospace and defense industries are leading the way for industr
Pakistan Freezes Over 1,000 Accounts and Cards Used For Crypto Trading
Pakistan Freezes Over 1,000 Accounts and Cards Used For Crypto Trading Authorities in Pakistan have reportedly moved to seize hundreds of bank accounts and cards belonging to crypt
Senator Cynthia Lummis releases report attacking Biden’s mining tax
Vince Quill2 hours agoSenator Cynthia Lummis releases report attacking Biden’s mining taxThe pro-crypto senator claimed that Bitcoin mining consumes as much energy as household appliances such as tumble dryers.301 Tota
Ana Paula Pereira2 hours agoRobinhood turns profitable in Q2, but crypto revenue declinesRobinhood achieved profitability for the first time since becoming a public company in the second quarter of 2023. Its crypto reven
Cointelegraph Accelerator13 hours agoWeb3’s Swiss Army knife of personal finance Changex joins Cointelegraph AcceleratorChangex combines crypto trading and lending with traditional banking features that also include an
$2 Billion Worth of Unpeeled Casascius Physical Bitcoins: There’s Less Than 20,000 Coins Left Active
$2 Billion Worth of Unpeeled Casascius Physical Bitcoins: There"s Less Than 20,000 Coins Left Active While bitcoin continues to become more scarce every day, the most popular set o
Visa Launches Bitcoin and Crypto Enabled Cards in Latam
Visa Launches Bitcoin and Crypto Enabled Cards in Latam Visa, one of the biggest payments companies in the world, has announced the launch of a series of crypto-enabled cards in pa
US President-Elect Biden to Nominate MIT Blockchain Professor Gary Gensler as SEC Chairman
US President-Elect Biden to Nominate MIT Blockchain Professor Gary Gensler as SEC Chairman The U.S. President-elect Joe Biden is set to name Gary Gensler as the
Cryptowisser Announces Most Comprehensive Exchange Comparison Tool on the Market
Cryptowisser Announces Most Comprehensive Exchange Comparison Tool on the Market PRESS RELEASE. Leading crypto service comparison site, Cryptowisser has now rele
NY judge approves $12.7B settlement between FTX, Alameda and CFTC
Tom Mitchelhill4 hours agoNY judge approves $12.7B settlement between FTX, Alameda and CFTCUnited States District Judge Peter Castel has officially signed off on a settlement between FTX and the commodities regulator, me
Reserve Bank of India Is Working on ‘Phased Implementation’ of Central Bank Digital Currency
Reserve Bank of India Is Working on "Phased Implementation" of Central Bank Digital Currency India’s central bank, the Reserve Bank of India (RBI), is working on a “p