The volume held on centralized cryptocurrency exchanges for Ethereum has decreased to 8.7% of the total supply (~16.6 million $ETH ). Such values have not been observed since the network's launch in 2015.
Since July 2025, the indicator has fallen by approximately 20%. The sharp withdrawal of assets coincided with the popularization of DAT companies, which began to buy up the second-largest cryptocurrency by market capitalization.
At the time of writing, the volume of assets under the management of such firms and exchange-traded funds has reached 12.79 million ETH — 11.6% of the coin's supply.
Meanwhile, Bitcoin's share on centralized exchanges is about 13.1% (2.76 million BTC). The value is also at a record low.
The analyst under the nickname Milk Road noted that Ethereum is quietly entering the zone of the most limited supply in history.
"ETH continues to flow to where it is not sold: staking, restaking, L2 activity, data availability levels, collateral cycles, long-term storage. [...] The coin's supply is shrinking in the background while the market decides what to do next," the expert emphasized.
In his opinion, Ethereum will enter a rally phase after more buyers return to the market who will face a supply shortage.
Currently, ETH is trading around $3000, with little change in price over the day.
