Santiment data show exchange balances at 6.06M ETH, a multi‑year low

Exchange reserves at ~6.06M ETH represent a steep multi‑year decline in on‑exchange supply, reflecting increased staking and ETF custody. Provider estimates differ, so the figure should be read directionally rather than as a precise canonical amount.

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- Santiment: exchange supply ≈ 6.06M ETH (tweet cited in report).
- Change from June 2020 peak of 22.9M ETH — described as a 73% decline.
- Drivers cited: staking, ETF custodians, corporate treasuries, and long‑term self‑custody.
- On‑chain tracking methodologies vary between providers; absolute numbers differ (CryptoQuant/Glassnode produce alternate series).
- Directional takeaway: less ETH immediately available on exchanges could amplify price moves if demand shifts.
- Does not itself predict price — complements other demand indicators like staking and ETF inflows.

Read full analysis on crypto-economy.com

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