Something's brewing with ETH supply dynamics. The numbers are pointing toward a significant squeeze on available supply—could be one of those moments where scarcity meets demand in unexpected ways.

We've seen this pattern before: when supply tightens while activity picks up, things tend to get interesting fast. Staking continues to lock up massive amounts, burn mechanisms are doing their thing, and exchange reserves? They're not exactly overflowing.

The real question isn't if a supply shock happens—it's whether the market's ready when it does. Deflationary pressure building while network usage stays strong creates the kind of setup traders watch for. Not saying moon tomorrow, but ignoring these signals probably isn't the smartest move either.

Anyone else tracking these metrics closely? The data's there for those paying attention.