Ethereum Faces Crucial Test Near Binance User Entry Levels

• 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 may trigger renewed distribution as major ETH cohorts face unrealized losses.

The Ethereum market seems to be holding an interesting story that many people may not have noticed. On June 6, 2025, the price of ETH was seen bouncing off the $2,392 mark—a level that has important markings.

Why $2,392 Is More Than Just a Number for ETH Holders

According to on-chain analysis by Crazzyblock on CryptoQuant, that level is the realized price of Binance user addresses that have deposited ETH to the exchange. This level reflects the average cost of those users when accumulating their ETH, and is now a kind of psychological boundary.

Currently, the price of ETH is around $2,525.80, up 1.97% in the last 24 hours. But if you look more broadly, its movement has been sideways for the past few weeks. It can be said that the market is waiting for something—either external pressure, or from ETH holders themselves who have been sitting on the sidelines for a long time.

But why is this $2,392 level so crucial? Because that’s where many Binance user wallets record their average entry. Once the ETH price approaches or touches that level, most of them are suddenly on the verge of loss. It is natural that many finally react, either by holding their breath or immediately clicking the sell button.

Source: CryptoQuant

Ethereum’s Calm May Break if Price Slips 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, that’s 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 Chartered’s 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.