Overview

• Ethereum trades near $4,290 within a narrow band as volume stays muted and price action compresses, keeping traders on watch for a decisive move.
• CryptoQuant data from contributor Arab Chain shows Binance’s Exchange Supply Ratio sliding from 0.041 to 0.037 between August 16 and September 3, signaling reduced on-exchange supply.
• Institutional demand continues with more than $450 million reported flowing into Ethereum ETFs led by BlackRock, while analysts note ongoing whale accumulation.
• About 36 million ETH are staked on the network, limiting readily sellable supply as derivatives positioning trends lighter with mostly neutral funding.
• Analysts say a confirmed push above $4,500 could open room toward $5,000, whereas a breakdown could send price to the $3,900 area where buyers may look to step in.