Sharing a few signals I noticed today: Exchange reserves hit a record low of 16 million, Binance at a 6-year low Staking surpassed 30% for the first time, even the foundation is stepping in ETH ETF funds are shrinking, but Fidelity is quietly buying On-chain whales withdrew nearly 50,000 ETH from CEX in the past 48 hours The tightening supply is no longer up for debate The question is, when will demand kick in ETFs are still hesitating, retail investors are still fearful But the supply shock for ETH is already brewing Stay patient Good night