Ethereum is reacting to the Binance user deposit address realized price, highlighting its role as a key psychological on-chain level. Falling below $2,500
If the ETH price can continue to stay above $2,500, holders from large groups such as OKX users (with a realized price of $2,706), active addresses ($2,513), and wallets that often receive transfers from exchanges ($2,532) are still in their comfort zone. This means that selling pressure is still relatively low, because not many people feel the need to exit their positions.
However, this condition is like balancing a glass on the edge of a table. If the ETH price drops even slightly below $2,500, many ETH holdings will immediately enter the unrealized loss area. Well, thats where the potential for massive distribution could emerge again. And if this happens, selling pressure could come from various sides, especially from Binance users—who are the owners of the largest ETH reserves among all centralized exchanges.
On the other hand, CNF previously reported Standard Chartereds prediction that Ethereum will surpass Solana by 2025. The reason is quite reasonable. Ethereum is considered to have more solid long-term fundamentals, and continues to experience steady improvements in terms of its technology.
Meanwhile, Solana is still dependent on the hype of the memecoin sector, which has recently begun to look shaky. In fact, some market players are starting to question whether memecoins still have a bright future on the Solana network.
If you imagine ETH as a ball rolling on a game board, then $2,392 is a checkpoint box. Once it hits that point, many old wallets are triggered to act. Interestingly, ETH has recently bounced off that level. Is this a sign that ETH holders from Binance do not want to let go of their assets at a loss?
The next question, of course, is: how long can this level last? Just like market traders who weigh when to start selling off their goods, ETH holders also have a similar psychological threshold. And at the current moment, that threshold is $2,392.
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