Addresses, Staking & Derivatives Trend

Active Addresses

In the number of active addresses, there were 422,962 active entries to the ETH network between June 4 and June 11 this week. During this period, Ethereum rose to $2,814. On June 5 – 6, in the area where the price and the number of active addresses intersect, Ethereum purchases are seen to rise immediately after weakening. When we follow the 7-day simple moving average, it is observed that the Ethereum price follows an upward trend on the dates when this average cut the price.

  Active Sending Addresses

Along with the Black Line (price line) in active shipping addresses, there has been an upward movement in shipping addresses between June 4-11. On the day the price hit its lowest point, active shipping addresses dropped to 258,513, while on June 10, active shipping addresses rose to 306,311. This situation was reflected as an increase, raising Ethereum to $2,814.

Active Receiving Addresses

Along with the Black Line (price line) in active shipping addresses, there was a significant rise in active buying addresses between June 4-5, while the price dropped. On the day the price peaked, active receiving addresses rose as high as 250,719, indicating that buyers took Ethereum at $2,681.

 Total Value Staked

On June 4, ETH price was 2,607 while Total Value Staked was 34,645,868. As of June 10, ETH price rose to 2,814 while Total Value Staked increased to 34,867,077. Compared to last week, ETH price increased by 7.93%, while Total Value Staked increased by 0.64%.

     2.1. Staking Inflows

On June 4, ETH price was at 2,607, while Staking Inflow was 107,966. As of June 10, ETH price was at 2,814, while Staking Inflow was at 68,617. Compared to last week, ETH price increased by 7.93%, while Staking Inflow decreased by 36.43%.

Derivatives

Open Interest

Ethereum open interest data gave a clear direction on the leveraged positions of market participants from June 4 to June 11. From around $18.5 billion on June 4, open interest dropped significantly to $17 billion on June 5. During this decline, the Ethereum price also experienced a significant retracement and this simultaneous movement suggests that long positions are being closed. Then, as of June 6, the price and open interest started to recover again. During this recovery process, the market seems to be taking long risk again. After June 9, this trend accelerated even more. Open interest reached $22 billion, while the Ethereum price rose to $2,830 at the same time. This strong parallel rise indicates a significant increase in leveraged long trades. On June 11th, an interesting divergence stands out. While the Ethereum price remained flat, open interest continued to increase. This could create a squeeze in the market; the fact that the price is not advancing while leveraged positions are increasing could be a potential signal of volatility. Overall, this chart shows that leveraged interest in Ethereum has increased significantly in recent days, and this has been supported by the price.

Funding Rate

On June 4th, the funding rate is quite high and positive. On the same day, the Ethereum price also saw a slight increase. On June 5, both the funding rate and the price drop sharply. This indicates that short positions increased and selling pressure came into play. On June 6, the funding rate stays at a very low level and the price remains flat. From June 7, a gradual increase in the funding rate begins. With this increase, the Ethereum price starts to recover. On June 9 and 10, the funding rate rises significantly, reaching above 0.01. On these dates, the Ethereum price also rises to $2,830. In other words, it can be said that investors turned to long positions again and the market entered a bullish expectation. On June 11, the funding rate drops slightly. There is also a slight pullback in the price. This suggests that investors have started to act cautiously or profit sales have come into play. In general, there is a parallel relationship between funding rates and Ethereum price. As the rate rises, the price goes up, while the price weakens on the declines. This shows that positioning in the futures market is in line with price movements in the spot market.

 Long & Short Liquidations

Last week, the ETH price managed to rise above the $2,800 level after falling below the $2,400 level. With this activity, 244 million dollars worth of long and 220 million dollars worth of short transactions were liquidated.

 Supply Distribution

Total Supply: 122,462,334 units, up about 0.3155% from last week.

New Supply: The amount of ETH produced this week was 391,944.

Velocity: Velocity was 8.25 as of June 9, down from 8.16 last week.

According to the latest weekly data, there was a limited decline in wallets between 100 – 1k ETH (-0.028%).
Wallets in the 1k-10k ETH range experienced a notable increase (+1.07%).
While the 10k-100k ETH segment showed a slight decline with (-0.086%),
(+0.26%) was recorded on 100k+ ETH wallets.

 Exchange Reserve

Between June 4-10, 2025, Ethereum reserves on exchanges increased from 18,631,232 ETH to 18,886,320 ETH. During this period, there was a total net inflow of 255,088 ETH and the Ethereum reserves of exchanges increased by 1.37%. The Ethereum price rose from $2,608 to $2,814 during the same period, appreciating by around 7.9%. Although net inflows in the stock markets indicate that some investors may be preparing to sell in the short term, the strong rise in Ethereum price shows that buying demand continues and inflows have not yet turned into meaningful selling pressure.

Fees and Revenues

When the Ethereum Fees per Transaction (Mean) data between June 4- June 10 is analyzed, it is seen that this value was realized at 0.000459753777057403 on June 4, the first day of the week.

The data showed an upward trend until June 5, when it reached its highest level of the week at 0.00064010914445415.

Following this, a downtrend was observed in the indicator, which fell to 0.000203780203293492 on June 8, recording the lowest value of the week.

After that, Ethereum Fees per Transaction (Mean) resumed its upward trend and closed at 0.000539543228859056 on June 10, the last day of the week.

Bitcoin: Fees (Total)

Similarly, when the Ethereum Fees (Total) data between June 4- June 10 is analyzed, it is seen that this value was 643,5518432805258 on June 4, the first day of the week.

The data showed an upward trend until June 5, when it reached a weekly high of 908,5696394199315.

Following this, a downtrend was observed in the indicator, which fell to 277.3481171656949 on June 8, recording the lowest value of the week.

After this level, Ethereum Fees (Total) started to rise again and closed at 801,2891377593056 on June 10, the last day of the week.

Blocks Mined

Between June 4 and June 10, Ethereum block production data shows an upward trend in the total number of blocks throughout the week. While 7,139 blocks were generated on June 4, this number increased to 7,156 as of June 10. This increase indicates a slight acceleration in the network’s transaction verification capacity.

There is a positive correlation between the number of block production and Ethereum price in the relevant period.

 Block Size

Between June 4 and June 10, Ethereum block size data completed the week with a limited increase. On June 4, the average block size was 93,998 bytes, while this value increased to 94,015 bytes as of June 10.

There was a positive correlation between block size and Ethereum price during the week.

Block Interval

Between June 4 and June 10, Ethereum block data showed a downward trend in block times until the middle of the week, but towards the end of the week, this trend reversed and a limited increase occurred. On June 4, the average block time was recorded as 12.10 seconds, while this time decreased to 12.07 seconds as of June 10.

During the period in question, Ethereum block duration and price movement were negatively correlated throughout the week.

Transaction

Last week, a total of 9,975,810 transactions were made on the Ethereum network, while this week it increased by about 12.91% to 11,263,693. The highest weekly transaction count was 1,485,125 on June 10, while the lowest was 1,361,016 on June 8.

The increase in the number of transactions shows that the usage on the network has increased compared to last week and Ethereum burns have increased accordingly. The correlation between price and number of transactions was generally stable throughout the week. However, when analyzed on a daily basis, it is seen that the transfer movements on June 4-7 have a selling trend, while the transactions on June 8-10 have a buying trend.

Tokens Transferred

While the total amount of ETH transferred on the Ethereum network last week was 11,284,791, this week it increased by approximately 22.18% to 13,786,133. The transfer of 3,479,771 ETH on June 10 was the highest daily token transfer amount of the week, while the lowest value of the week was recorded on June 7 with only 741,828 ETH transferred.

In addition to the increase in the number of transactions, the increase in the amount of ETH transferred also provides important clues that the activity on the network has started to pick up considerably.

Estimated Leverage Ratio

During the 7-day period, the metric generally moved sideways during the first part of the process. ELR (Estimated Leverage Ratio), which had a value of 0.866 at the beginning of the process, fell to 0.843 on June 5, reaching the lowest level of the process. The metric remained flat for the rest of the process and then started to rise, reaching a value of 0.916 at the time of writing and constituting the peak of the process. A higher ELR means that participants are willing to take on more risk and generally indicates bullish conditions or expectations. It should be noted that these rises can also be caused by a decrease in reserves. When we look at Ethereum reserves, there were 18.63 million reserves at the beginning of the process, while this figure increased during the rest of the process and is currently 18.88 million. At the same time, Ethereum’s Open Interest is seen as 35.29 billion dollars at the beginning of the process. As of now, the open interest, which has risen in the process, is 41.43 billion dollars. With all this data, the ELR metric generally followed an upward trend. The price of the asset was valued at $ 2,663 at the beginning of the process with all this data, while the lowest point was realized at $ 2,380. As of now, with the increase in the risk appetite of investors and traders, the increase in ELR is reflected in the price and is at $ 2,768. The increase in reserves throughout the process is also supported by the increase in open interest, explaining the rise in the ELR rate. As a result, the increase in reserves and the increase in open interest indicate that the market is currently in a greedy approach. We can predict that the upward momentum will continue if the reserve amount continues to increase and the open interest data increases.

ETH Onchain Overall

*The metrics and guidance in the table do not, in and of themselves, describe or imply an expectation of future price changes for any asset. The prices of digital assets may vary depending on many different variables. The onchain analysis and related guidance are intended to assist investors in their decision-making process, and making financial investments based solely on the results of this analysis may result in harmful transactions. Even if all metrics produce a bullish, bearish or neutral result at the same time, the expected results may not be seen depending on market conditions. Investors reviewing the report would be well advised to heed these caveats.

Legal Notice

The investment information, comments and recommendations contained in this document do not constitute investment advisory services. Investment advisory services are provided by authorized institutions on a personal basis, taking into account the risk and return preferences of individuals. The comments and recommendations contained in this document are of a general type. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained in this document may not result in results that are in line with your expectations.

NOTE: All data used in Ethereum onchain analysis is based on Cryptoqaunt.