#以太坊行情技术解读 How low has Ethereum's inventory on exchanges dropped? The latest data shows it has hit the lowest level since the project launched in 2015.

What is behind this change? Simply put—tokens that can be quickly dumped are disappearing. This is not small retail investors quietly transferring, but large players and institutions taking action. $ETH is being withdrawn from exchanges in large amounts, flowing into staking, re-staking, or long-term locking.

At the same time, changes are also happening on Wall Street. The latest announcement from a US bank states that starting from 2026, its wealth advisors will be able to directly recommend Bitcoin and Ethereum ETFs to clients. To translate: traditional financial giants now have a compliant channel to enter the market.

What will happen when these two forces collide? On one side, the available coins for sale are becoming increasingly scarce; on the other side, institutions and traditional funds are lining up to enter. Supply is shrinking, while demand is expanding. This is a classic supply and demand imbalance, and everyone can see it.