Ethereum's Exchange Supply Hits Record Low: Where is All the ETH Going?
Ethereum's tradable supply on crypto exchanges has reached an all-time low. According to data from Santiment, only 3.49% of the total ETH supply is now held on tracked platforms.
This decline in exchange balances marks a significant shift in how Ethereum holders are managing their assets. A major reason behind this trend is the growing use of ETH in staking and decentralized finance (DeFi). Approximately 35% of Ethereum's total supply is estimated to be staked, while around $53 billion is locked in DeFi protocols.
This means that large treasury holders are keeping more ETH away from exchange order books. For example, BitMine recently reported staking over 5 million ETH. If demand for the crypto asset increases while exchange supply remains limited, buyers could face fewer readily available coins to purchase.