The staking ratio of ETH has hit an all-time high, while the amount of ETH on exchanges continues to decrease.
These two developments indicate that the sell-side for ETH is tightening. If this trend continues, the circulating supply of Ethereum could become more constrained, especially as demand picks up again.
MAIN CONTENT
The staking ratio of ETH has reached 32.4%, the highest level ever recorded.
ETH reserves on exchanges have dropped from over 33 million to around 14.9 million.
The outflow from exchanges and the staking trend simultaneously reduce the amount of ETH available for quick trades.
ETH staking hits a new peak
The ratio of ETH locked in staking has risen to 32.4%, the highest level recorded to date.
This trend indicates that more and more investors are choosing to lock up ETH rather than keep it in a tradeable state. Compared to early 2021, the current staking levels have surged significantly, at times being close to 0%.
This upward momentum isn't happening in a straight line, as there have been periods of stagnation and corrections. However, the overall trend is that more ETH is being staked over time.
ETH reserves on exchanges have plummeted compared to 2021
As of now, the amount of ETH on exchanges has decreased to around 14.9 million ETH, down from over 33 million ETH in 2021.
This means the portion of ETH that can be sold or traded immediately has shrunk significantly. Combined with the increased staking, the amount of ETH held for the long term is taking up a larger share.
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Source: Cryptoquant
In the context of dwindling exchange supply, Ethereum might react more sensitively when demand spikes in the market. This is a factor often monitored alongside liquidity and trading volume.
The outflow of ETH from exchanges reinforces the supply squeeze pressure
Ethereum is also recording many periods of negative netflow, meaning the amount of ETH leaving exchanges frequently exceeds the amount being deposited.
This development aligns with the trend of holders moving ETH to self-custody, staking, or holding long-term. Consequently, the remaining ETH on exchanges for quick sales will further decrease.
Ethereum investors are locking up ETH at a record pace - Bitcoin News - Latest Coin News Updates 24/7 2026
Source: Cryptoquant
With such a supply structure, ETH prices will depend more on demand and liquidity rather than solely on the amount of ETH remaining on exchanges. Current data does not show significant selling pressure from the liquid supply side.
Summary
ETH is showing two signals at once: staking has surged to record levels while the amount of ETH on exchanges has drastically dropped. If this trend continues, the market could face lower liquid supply in the near future.
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