Ethereum has pushed back above the $2,100 level, indicating a slight improvement in market sentiment after weeks of volatility and uncertain price action. The move above this important threshold comes as the broader crypto market begins to stabilize, allowing ETH to regain some of the momentum lost during the recent correction. Although the recovery remains cautious, recent on-chain data suggests that trading activity around Ethereum is starting to intensify.
According to a recent report from CryptoQuant, ETH Binance’s 30-day exchange liquidity ratio reveals a notable change in liquidity dynamics on the platform. This indicator measures the relationship between trading volume and the supply available on an exchange, and shows that trading has accelerated significantly in recent weeks.
The report shows that 30-day sales of Ethereum on Binance surged to approximately 29.6 million ETH. This marks the highest level since September last year and shows a clear increase in coin movement and trading participation on exchanges.
An increase in trading volume levels typically reflects a market entering a more active phase, with liquidity and trading volumes expanding as participants reposition themselves. In this context, the recent surge in Ethereum activity could indicate renewed involvement from traders as the asset looks to consolidate above the $2,100 level.
Rising liquidity ratios indicate intensification of market activity
The CryptoQuant report further explains that ETH Binance’s 30-day trading liquidity ratio provides insight into how actively traded Ethereum is relative to the available supply on the platform. This indicator compares a coin’s actual trading volume over a 30-day period to the total ETH reserves held on exchanges.
Currently, the Ethereum supply on Binance is approximately 3.5 million ETH. During the same 30-day period, approximately 29.6 million ETH was traded on the platform. This means that the amount being exchanged during the month significantly exceeds the available supply, meaning that the same unit of ETH is circulating on the market multiple times. As a result, the liquidity ratio rose to approximately 8.47, a relatively high level indicating intensive utilization of exchange-held supply.
From a structural perspective, high turnover levels typically appear during periods of heightened volatility or market repositioning. When the same coin changes trade repeatedly over a short period of time, it reflects an environment where traders are actively adjusting their positions in response to price fluctuations.
Historically, surges in sales have coincided with phases of increased market activity and accelerated capital turnover. However, increased trading volume should not automatically be interpreted as selling pressure. This often reflects the use of ETH as collateral in speculative trading or derivatives markets.
Related article: From 240B to 7B: Decoding the massive speed slump that paralyzed XRP trading activity on Binance
Ethereum attempts to stabilize after major correction
The chart shows Ethereum trading around $2,150 after a sharp correction that significantly changed its broader trend structure. ETH reached a cycle high above $4,500 in 2025 before entering a long decline characterized by falling highs and sustained selling pressure. This downward trend accelerated in early 2026, with the asset depreciating sharply and prices briefly falling below the $2,000 level before a gradual recovery.
From a technical perspective, Ethereum is positioned below major moving averages such as the 50-day, 100-day, and 200-day. These indicators are currently tilted to the downside, acting as a dynamic resistance level between approximately $2,800 and $3,300. As long as ETH trades below this moving average, the broader trend structure will continue to favor sellers.
However, the recent pullback from the $1,900 area suggests that buyers are looking to defend the potential support zone. The recovery towards the $2,100-$2,200 area signals the beginning of a short-term stabilization phase following the capitulation that occurred at the beginning of the year.
While the surge in volume during the decline reflects strong liquidation pressure, recent price strength indicates that volatility is gradually reducing. For Ethereum to move into a more constructive structure, the market will likely need to regain the $2,400 to $2,600 area and start forming higher highs on the daily time frame.
Featured image from ChatGPT, chart from TradingView.com
editing process for is focused on providing thoroughly researched, accurate, and unbiased content. We adhere to strict sourcing standards, and each page is carefully reviewed by our team of top technology experts and experienced editors. This process ensures the integrity, relevance, and value of your content to your readers.
