Let’s talk about something—how tight ETH’s supply side is right now: - Total reserves on exchanges are at 16M, a multi-year low, and still flowing out - Binance’s ETH reserves hit a 6-year low, with 2.4M marked as illiquid - Total staked amount is 37M, accounting for 30% of total supply—first time in history at this ratio - Even the foundation has started staking, with 72,000 ETH going into DVT-lite - Lido holds a 24.4% share - Annual inflation rate is only 0.23% Exchanges have no coins to sell, staking is locked up, and inflation is almost zero. This is the supply side—if there’s even a decent wave of demand… you can imagine.