A major shift is happening in Ethereum’s on-chain landscape: just 4.9% of the entire ETH supply is now sitting on centralized exchanges. That’s the lowest level ever recorded, and it could signal a new phase for the second-largest cryptocurrency.
Key Takeaways:
- Ethereum’s declining presence on exchanges hints at reduced selling activity and stronger long-term conviction among holders.
- ETH has soared 58% over the past month, with futures markets heating up and open interest topping $31 billion.
- Analyst Crypto Patel points to a bullish “Golden Cross” pattern forming on the 12-hour chart.
Ethereum’s supply on trading platforms has quietly dropped to historic lows. That’s a strong sign that fewer investors are preparing to sell, many seem content to hold their assets off exchanges, possibly in cold storage or DeFi protocols. In the last month alone, ETH has jumped 7% in a single day, crossing $2,550 and pushing its total market cap past $300 billion.
According to blockchain data provider Santiment, this current exchange balance, under 4.9% of total supply, marks the lowest level since Ethereum’s launch more than ten years ago. Over time, more than 15 million ETH has been gradually withdrawn from exchanges, reflecting a shift in investor mindset toward long-term accumulation.
Analyst Ali Martinez recently noted that nearly one million ETH left exchanges just in the past 30 days, a sign of decreasing short-term selling pressure. Fewer coins available for sale usually means stronger price support.
Amid this backdrop, enthusiasm around Ethereum continues to rise. Prominent figures in the crypto space, including Arthur Hayes, believe ETH could spearhead a broader altcoin run this summer.
Is the ETH Bull Run Gaining Momentum?
After dipping below $2,400 earlier, Ethereum has come roaring back. It’s up almost 9% in the last 24 hours, trading near $2,574. Futures market data reveals growing confidence: open interest has surged by 7%, climbing above $31.2 billion. Meanwhile, liquidations in the past day exceeded $91 million, with a majority coming from shorts, another bullish indicator.
Crypto analyst Crypto Patel flagged a “Golden Cross” formation on Ethereum’s 12-hour chart, a pattern that often signals upward momentum. Based on this setup, Patel believes ETH could be headed toward a range between $3,800 and $5,000 in the near future.
If ETH manages to stay above the $2,500 resistance zone, traders could see the rally extend beyond $3,000, with momentum likely picking up as more investors join in.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
