Ethereum (ETH) supply on tracked exchanges has fallen to a record low of 3.49%, as staking, DeFi and long-term holdings pull more tokens off trading venues.
Key Points:
- Only 3.49% of ETH supply is held on tracked exchanges, while another 1.16% has left those platforms since Jun. 1.
- Santiment says staking and DeFi are major reasons for the decline, with about 35% of ETH staked and roughly $53 billion locked in DeFi.
- CryptoQuant says network activity remains firm during the price pullback, while priority fees have risen sharply.
Ethereum Supply Shift
Ethereum exchange balances have reached a record low after another 1.16% of supply moved off trading platforms since Jun. 1. The decline leaves fewer tokens immediately available for trading or selling.
Santiment said staking and decentralized finance are helping drive the shift, with about 35% of Ethereum estimated to be staked and around $53 billion locked in DeFi. That gives holders more ways to deploy ETH on-chain instead of keeping it on exchange order books.
Long-term holders and large treasury firms are also contributing to the decline, and BitMine reported earlier this month that it had staked more than 5 million ETH. Lower exchange supply does not guarantee higher prices.
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CryptoQuant Network Signals
CryptoQuant reported that Ethereum Gas Used stood near 217.1 billion, up 0.26%, suggesting demand for block space had not fallen sharply during the recent price correction.
Priority Fees reached about $464,000, a 26.74% daily increase, showing stronger competition for transaction inclusion even as Blocks Mined stayed nearly unchanged at about 7,147.
The firm identified the $2,600 to $2,650 range as an important support area and said ETH could return toward $2,700 to $2,800 if that zone holds while network activity remains elevated. The scenario remains conditional.
Ethereum had climbed from roughly $1,900 to $2,800 over about a month before retreating toward $2,660, leaving the token well above its earlier level despite the pullback. That recent swing also shows why shrinking exchange balances matter as a supply signal, but cannot by themselves determine short-term price direction.
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