CryptoQuant Warns: ETH May Collapse If This Support Fails 

This metric reflects the average cost basis of ETH deposited on Binance, now acting as a key support zone in Ethereum’s current market structure.

The bounce from this level underscores how exchange-specific user behavior is influencing broader price action. As of June 6, 2025, the $2,392 level appears to be the strongest line of defense for bulls.

Realized Prices by Exchange and User Cohort

CryptoQuant breaks down several on-chain realized price levels across user categories:

Binance user deposit addresses: $2,392 OKX user deposit addresses: $2,706 Addresses that frequently receive from exchanges: $2,532 Highly active addresses: $2,513

Holding above the $2,500 range keeps most cohorts in profit, reducing potential sell pressure from short-term or emotionally driven holders.

Break Below $2,500 May Trigger Downside

While Ethereum’s current position remains stable, a break below $2,500 could flip sentiment quickly. Such a move would push a large portion of exchange-linked ETH holdings into unrealized losses, which often results in renewed distribution and downward volatility.

“Binance holds the highest ETH reserves among all centralized exchanges,” the report notes, “making its realized price level a critical line to monitor.”

The $2,392–$2,532 range now acts as both technical and behavioral support, shaped by user cost basis and reserve dominance.

Outlook: Watch Binance Levels for ETH Stability

As long as ETH holds above $2,500, market structure remains intact and pressure to sell stays muted. But if Ethereum dips below this zone, traders may see a fast escalation of sell-side momentum.

With Binance continuing to dominate ETH exchange flows, its users’ realized price levels now serve as a frontline indicator of where support may hold—or break.

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