Ethereum’s total supply has reached unprecedented levels, altering the narrative of ‘ultra sound money.’ While the current realized price of ETH stands at approximately 2,200 USD, the market price is at 2,600 USD, indicating the potential for undervaluation.

Long-term ETH holders are increasing, helping absorb selling pressure. Recent data shows that whale investors have bought over 600,000 ETH, further supporting the market. Additionally, institutional investments have been rising, contributing to market stability.

Ethereum’s exchange reserves have fallen to 9.63 million ETH, valued at around 26 billion USD, the lowest since August 2024. This decline indicates reduced selling pressure, enhancing investor confidence, while Ethereum has recently led crypto inflows in early 2025.