Ethereum has surpassed 121 million coins in circulation, reaching a new all-time high. The increase in supply comes amid heightened market leverage and testing of key resistance levels.
Ethereum Supply Reaches 121 Million
According to CryptoQuant analyst Carmelo_Alemán, as of August 8, 2025, there are over 121 million ETH in circulation. The previous milestone of 120 million ETH was reached on August 22, 2022. It took almost three years to add another 1 million ETH, with the current daily issuance at 2500-3000 coins.
The total issued Ethereum, including coins locked in staking, stands at 157,182,039 ETH. More than 36.18 million ETH are locked in staking contracts, which reduces the actual market supply and partially limits token inflation.
Market Conditions With High Leverage
Data from CryptoOnchain shows that the combined estimated leverage ratio (ELR) across all exchanges has reached 0,68, close to historical highs. On Binance, the figure is lower at 0,52, which analysts say indicates more aggressive use of borrowed funds on other platforms.
ETH is currently testing the $4020-$4060 resistance zone. Historically, this range has served as a key point for either confirming or reversing a trend. Binance specialists have recorded above-average inflows of ETH, which may signal localized selling pressure linked to liquidations or arbitrage.
Institutional Demand and Network Growth
US spot Ethereum ETFs saw a record daily inflow of $726.6 million, pushing total holdings above 5 million ETH (around $20.3 billion). BlackRock and Fidelity led in purchase volumes.
Ark Invest acquired $108.57 million worth of ETH (30,755 coins), while Fundamental Global allocated $200 million into Ethereum treasury reserves, confirming growing institutional interest.
Network metrics are also showing positive momentum. Transaction volume is at record highs, staking participation continues to expand, and regulatory clarity around liquid staking following the closure of SEC investigations supports structural demand.
Key Levels for ETH:
- Nearest support: $3980-$4020.
- Resistance: $4450-$4550 if the current zone is successfully broken.
Read Also: Ethereum Nears $4K but the Market Hesitates to Break Through, Analytics Says
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.
