Around 14:32 UTC on September 3,on Bitstamp, the Ethereum ($ETH) price broke above the $4,000 level for the first time in nearly four months (i.e. since May 15), and two minutes later, reached today’s intraday high of $4,021.09.

One-Day ETH-USD Price Chart (Bitstamp) by TradingView

Currently (as of 18:30 UTC on September 3), ETH-USD is trading around $3,958.56, up 5.24% in the past 24-hour period. As for the year-to-date (YTD) period, ETH-USD is up 441.39%.

YTD ETH-USD Price Chart (Bitstamp) by TradingView

Crypto-focused behavior analytics startup Santiment pointed out that since mid March 2020, as $ETH balances on crypto exchanges have dropped 10% (i.e. from 27% to 17% of the total supply), the $ETH price has gone up around 3,447%.

Interestingly, according to data by Etherscan, around 7.39 million ETH (worth roughly $21.2 billion), or roughly 6.36% of ETH’s circulating supply is currently held by the Eth2 deposit contract (i.e. being used for staking). SOURCE Santiment on $ETH: Since March 15, 2020, Exchange Supply Down 10%, Price Up 3,447% | Cryptoglobe

By block head

Block Head is a blockchain journalist.