ETH on exchanges just hit a multi-year low! 📉



16 million ETH remaining. Down from 23 million in 2023.

While price dumped, holders kept withdrawing.

Exchange reserves track how much ETH sits on exchanges, ready to sell (see chart).

Less reserves = less immediate sell pressure.

When reserves drop during a price crash, that is the interesting part. It means holders are not panic selling.

They are moving ETH off exchanges on purpose. To staking. To cold storage. To DeFi.

They are making an active choice to hold.

Historically, this is how supply shocks begin.

Not with a price pump.

With quiet accumulation while everyone else is distracted by the red candles.

The market is scared.

Onchain data tells a different story. 📈

$ETH
{spot}(ETHUSDT)
ETH3,17%
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