ETH Supply on Exchanges Continue to Hit Record Lows As Institutions and Treasuries Accumulate

ETH supply on exchanges continue to hit record lows.

Institutions and treasuries continue to accumulate more ETH

Ethereum scarcity narrative gains momentum.

Demand for Ethereum (ETH), the pioneer altcoin asset, continues to grow at an intense space. Presently, ETH supply on exchanges continue to hit record lows as institutions and treasuries accumulate ETH at an unprecedentedly aggressive pace. Meanwhile, whales are also buying ETH when the price is still far below the asset’s latest ATH. One whale bought over $86 million ETH and staked it all in one shot

ETH Supply on Exchanges Continue to Hit Record Lows

Since the correction phase of Q1 2025, most traders have been steadily accumulating ETH when the ponner altcoin asset went on to bottom at $1,700. Following this event, the price of ETH went on to steadily claim higher ATH prices, taking it from $2,700 to $3,700 and $3,900, until the price of ETH finally broke past the $4,000 price target. Once this price was broken past, traders hoped to see ETH set a new ATH price

In August, the price of ETH finally went up to $4,700, close to its previous ATH price set 4 years ago at $4,800. Soon after this, the price of ETH set its first ATH this bull cycle in the $4,900 price range. However, as soon as this new ATH was set, the price of ETH began to decline, much like BTC did 10 days prior and then fell dramatically. However, the price of ETH only fell as low as $4,100 and is currently trading in the $4,300 price range

Despite the new ETH ATH and the drop in ETH price, institutions, treasuries, and whales have been increasingly accumulating more and more ETH at an extremely aggressive pace. With some like Bitmine Immersion on a mission to own 5% of the total ETH supply, and in a very short time,it has already accumulated almost 2% of the ETH supply, beating out Saylor’s rapid BTC accumulation pace

As we can see from the post above, the ETH supply on exchanges has been observed to decline steeply, leading the ETH supply on exchanges to continue to reach record lows. This comes as no surprise with institutions like BlackRock hoarding ETH to meet ETH ETF demands, and treasuries like Bitmine stacking ETH before new ETH ATHs can arrive. As the supply dwindles, demand soars

Whale Bought Over $86 Million ETH and Staked it All

Meanwhile smart ETH accumulators are putting their ETH to work. As we can see from the post above, one whale bought $86,840,000 worth of ETH in a day and went on to stake the entire amount immediately. According to responses, this move shows strong conviction and led to staking demands growing as whales lock a larger share of the total ETH supply. All in all, the Ethereum scarcity narrative grows stronger.