🚨 Ethereum’s Tradable Supply Keeps Getting Smaller, Makes History 🔒 Ethereum keeps disappearing from exchanges. Just 3.49% of ETH supply now sits on tracked exchanges, with another 1.16% of total supply moving off since June 1st. Exchange balances were already at their lowest levels since Ethereum’s earliest years this summer. 📉 Fewer coins on exchanges means fewer coins sitting one click away from being sold. It doesn’t guarantee higher prices, but it reduces the pool of ETH readily available to hit the market during the next wave of selling. 🥩 Staking and DeFi help explain where some of that ETH is going. Roughly 35% of ETH is estimated to be staked, while Ethereum currently holds about $53B in DeFi value, giving holders reasons to earn yield, lend, provide liquidity, or simply keep their ETH working onchain. 🧲 Long-term conviction is keeping more ETH away from exchange order books. Even large treasury holders are increasingly staking their coins, with BitMine alone reporting more than 5M ETH staked earlier this month. If demand strengthens while available exchange supply stays this scarce, buyers have fewer immediately available coins to compete for. 🔗 Live Chart: https://app.santiment.net/charts/eth-exchange-flow-balance-supply-on-exchanges-32142?utm_source=x&utm_medium=post&utm_campaign=eth_exchange_flow_supply_on_exchanges_b_092426&aff=3