ETH's price surge above $2,400 has turned many long-term holders profitable as it surpasses the realized price of $1,900.
Binance remains the top hub for ETH liquidity, recording massive withdrawals before the recent surge, indicating ongoing market activity.
Despite the price increase, traders on Binance are balancing portfolios sensibly, showing a mature market behavior.
Mixed signals emerge from on-chain data with long-term holders adding ETH to wallets while some face unrealized losses, and network activity and funding rates show uncertainty.