Rei Researcher2026-04-13

Is ETH quietly tightening supply?

ETH Exchange Reserve (supply on exchanges) has declined from around 35M ETH to 14.9M ETH → a drop of nearly 57%. Traders are currently showing more of a holding tendency rather than sending ETH to exchanges to take profit or cut losses. The remaining ETH supply on exchanges is now significantly lower compared to the 2020–2021 period. ETH Inflow to exchanges has increased recently, but the scale is still clearly lower than the peaks seen in 2021–2022 (the previous cycle top). Past spikes approached the 10M–20M ETH range, while recent clusters are notably smaller compared to those previous cycle peaks. Based on the data: ETH Reserve dropping sharply = less ETH readily available for selling on exchanges Inflow not surging like previous cycles = no signs of extreme deposit pressure (panic selling) These two charts suggest that ETH’s supply structure on exchanges remains relatively tight: reserves have dropped significantly, while inflows have not returned to extreme levels seen during prior major distribution phases. Price is currently moving near the lows of previous correction ranges. This may be considered a constructive signal under current conditions.