Ethereum Price Reclaims $2,500 Amid Tightening Supply and Rising Staking

Ethereum's price has reclaimed $2,500, and this shift in value is closely tied to changes in how the asset is held. According to CryptoQuant data, exchange balances have decreased by approximately 28% since May 2025, falling from 14.8 million ETH to 25.7 million ETH.

This reduction in liquid tokens available for immediate sale has significant implications for Ethereum's market dynamics. As the price approaches the next level at which new purchases can absorb some of the current supply, there may not be enough readily available supply to meet demand.

Staking activity is also playing a crucial role in tightening Ethereum's supply. The amount of staked ETH has risen from about 29.8% in September 2025 to 35.56% by September 18, 2026, further reducing the total supply available for market trading.