ETH on exchanges drops to a 3-year low.
By Maxime Laurent · 2025-09-04 06:51
ETH on exchanges drops to a 3-year low.
Supply on centralized venues has slid to ~17.4M $ETH, down ~38% since the 2022 peak — a proper squeeze in the making.
What’s soaking it up? Two hoses on full blast:
• Spot $ETH ETFs keep accumulating (collective AUM in the ~$24B range, with flows that swing day to day).
• Corporate treasuries are turning into quiet whales — just look at SharpLink’s SEC-filed updates showing hundreds of thousands of $ETH on the balance sheet and growing. c’est du lourd.
On top, more $ETH is getting locked for yield: staking queues recently ticked up again — less liquid supply, more pressure if demand pops.
My read from the terrasse: when exchange balances thin out while ETFs/treasuries hoover coins, price reactions can lag… until they don’t. I’m watching three dials this month — daily ETF net flows, CEX $ETH balances, and staking entry queue — for the moment the market feels the pinch.
#ETH #Ethereum #ETF #OnChain #Supply #Staking #Whales #CryptoMarkets 🧲🔒📉
Supply on centralized venues has slid to ~17.4M $ETH, down ~38% since the 2022 peak — a proper squeeze in the making.
What’s soaking it up? Two hoses on full blast:
• Spot $ETH ETFs keep accumulating (collective AUM in the ~$24B range, with flows that swing day to day).
• Corporate treasuries are turning into quiet whales — just look at SharpLink’s SEC-filed updates showing hundreds of thousands of $ETH on the balance sheet and growing. c’est du lourd.
On top, more $ETH is getting locked for yield: staking queues recently ticked up again — less liquid supply, more pressure if demand pops.
My read from the terrasse: when exchange balances thin out while ETFs/treasuries hoover coins, price reactions can lag… until they don’t. I’m watching three dials this month — daily ETF net flows, CEX $ETH balances, and staking entry queue — for the moment the market feels the pinch.
#ETH #Ethereum #ETF #OnChain #Supply #Staking #Whales #CryptoMarkets 🧲🔒📉
Disclaimer: This content is for informational purposes only and not financial advice.