Ether supply on exchanges hits 9-year low amid ‘Wall Street glow up’

Ethereum exchange balances dropped to a nine-year low of 14.8 million ETH as digital asset treasury firms and exchange-traded funds accelerate buying.

Ether holdings on centralized exchanges have dropped to their lowest point since 2016, driven by growing institutional accumulation.

Exchange balances have been steadily shrinking since mid-2020, with the available supply of Ether (ETH) cut by around 50% over the past two years.

The ETH exchange exodus accelerated in mid-July, with balances dropping 20% since then as digital asset treasuries ramped up accumulation. As of Thursday, the exchange balance is down to 14.8 million ETH, according to Glassnode.

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