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[ETH Tokens Concentrated in the $2,700 to $3,100 Range, Totaling 17.9 Million and Accounting for 22.6% of Circulating Supply] Crypto analyst Murphy pointed out that ETH tokens are currently primarily concentrated in the $2,700 to $3,100 range, with a cumulative total of 17.9 million tokens, accounting for 22.6% of the total circulating supply. Among these, the $2,700 level is the most densely concentrated area, with a turnover of 4.43 million tokens, regarded as a key support level. On-chain data shows that a large amount of capital entered positions near $4,500 in mid-September but failed to reduce holdings, with the price subsequently falling to the current range. In late November, significant capital bought in the $2,700 to $2,800 range, with no clear signs of reduction at present. Tokens near $3,100 are primarily held by long-term investors, who are less sensitive to short-term price fluctuations, though a sharp price drop could trigger selling risks. Additionally, a large number of tokens remain concentrated in the $50 to $396 range below, which may influence future price trends.