TLDR
- Ethereum rose 2.87% to $1,680 during a late-session rally on June 11, 2026.
- ETH exchange supply dropped to a record low of 14.5 million ETH, per CryptoQuant data.
- Over 6 million ETH have been pulled off exchanges in the past 2.5 years.
- Daily active addresses on the Ethereum network are now topping 1.3 million, above previous bull market peaks.
- Analyst Ali Charts flagged $700 as a potential longer-term price bottom using the Ethereum Delta Price metric.
Ethereum opened the Asian trading session on June 11 at $1,628 before staging a recovery that pushed the price to $1,680 by the end of the day.
CoinMarketCap data shows ETH posted a 2.87% gain over the 24-hour period. The session was choppy early on, with price dipping below $1,620 before finding support.
From there, buyers stepped in and pushed the price steadily higher. ETH cleared $1,640, then $1,660, before a sharp late-session rally drove it briefly toward $1,690. The asset settled near $1,680, close to the day’s high.
The price action came as Ethereum exchange reserves fell to their lowest recorded level. CryptoQuant data shows just 14.5 million ETH now sits on exchanges, down from around 20 million ETH through most of 2024.
🚨ETHEREUM’S EXCHANGE SUPPLY JUST HIT AN ALL-TIME LOW
ETH held on exchanges has fallen to just 14.5m ETH, the lowest level on record.
More than 6 million ETH has been withdrawn from exchanges since late 2023, as ETFs and corporate treasury buyers continue accumulating. pic.twitter.com/BPIoxO0bDA
— Coin Bureau (@coinbureau) June 11, 2026
The drawdown began around July 2025 and has continued at a steady pace. CryptoQuant noted that “exchange reserves continue to decline at a fast pace.”
Record-Low Exchange Supply
Outflows have been recorded across major platforms including Binance and Coinbase. Investors have moved ETH into staking contracts, private wallets, and corporate treasuries.
BitMine holds over 5.5 million ETH after a $250 million capital raise in 2025. SharpLink also holds 868,699 ETH in its treasury.
In October 2023, exchange balances sat at 21 million ETH. Since then, more than 6 million ETH have left exchanges. During a period of market stress, exchanges typically see inflows — but that hasn’t happened here.
Crypto analyst Leon Waidmann, head of research at Lisk, noted: “Whoever is buying here isn’t selling back.”
Network Activity at Record Highs
Beyond price, the Ethereum network itself is seeing record usage. Daily active addresses have been pushing past 1 million and recently peaked above 1.3 million.
For comparison, active addresses hit 720,000 in 2018 and 800,000 at the peak of the 2021 bull market. Current levels are well above both those highs.
Waidmann described this as a “powerful resurgence in network activity, climbing to record levels.”
Analyst Ali Charts posted on X that Ethereum is “entering what I believe could be one of the best long-term accumulation zones.” Ali Charts also flagged the Ethereum Delta Price metric, which has identified the last two market bottoms. Using this model, a potential bottom near $700 has been highlighted — a level the metric has flagged as a deep accumulation zone.
Ethereum $ETH is entering what I believe could be one of the best long-term accumulation zones.
Here’s why I’m buying. https://t.co/nER4aqi0gr pic.twitter.com/ZmChCjq1Hb
— Ali Charts (@alicharts) June 11, 2026
At the time of publication, ETH was trading near $1,680.
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