Ethereum exchange balances continued to decline this week, with Glassnode reporting that ETH is leaving centralized platforms at a faster rate than Bitcoin. The analytics firm confirmed today that Ethereum’s liquid supply tightened further as withdrawals accelerated across major exchanges, reinforcing a long-term contraction trend visible since early Q4.
Data from Glassnode and CryptoQuant indicate that only about 8.8% of ETH remains on exchanges, compared with nearly 15% of BTC. Analysts note that rising staking deposits, consistent ETF inflows, and Ethereum’s expanding role in DeFi and restaking networks are driving the shift. The gradual removal of ETH from trading venues suggests increasing conviction among long-term holders and institutions seeking productive yield opportunities.
In the coming days, researchers expect additional outflows as staking queues remain active and ETF issuers continue accumulating for new institutional mandates. Market participants will monitor exchange-balance dashboards, liquidity metrics, and upcoming staking data releases for any signs of tightening conditions if withdrawals persist.
Source: https://x.com/LeonWaidmann/status/1996765476936888337
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