Ethereum Supply on Exchanges Near 9-Year Low, Fueling $4K Price Predictions

The Ether (ETH) supply across all exchanges has dropped near its lowest levels since 2016, just as Ethereum’s native token breaks above the key $3,000 resistance.

Ethereum Supply Squeeze is Real

As of June 22, all major crypto exchanges collectively held 16.15 million ETH in their reserves, the lowest since July 2016. Since then, the supply has been trending sideways and was around 16.24 million on July 15.

A falling ETH balance on exchanges suggests that fewer holders are keeping their ETH on trading platforms. Since assets on exchanges are typically more “sell-ready,” their withdrawal implies reduced intent to sell — a bullish signal.

The pattern often reflects rising investor conviction. Instead of being positioned for short-term trades, ETH is likely being moved into cold storage, DeFi protocols, staking, or ETF custodians — all long-term strategies.

That seems to be the case with Ethereum these days. Its US-based spot ETFs, for instance, have collectively amassed over 910 million ETH so far in 2025. That is about $2.78 billion at current ETH/USD rates.

Meanwhile, public companies and corporations have collectively added 1.59 million ETH to their balance sheets, equating to $4.87 billion in current rates, with SharpLink Gaming being the top holder with over 290,700 ETH in reserves.

Ether Retakes Multiyear Trendline as Support, Eyes $4,100 Next

has reclaimed a key multiyear ascending trendline as support, signaling a potential shift in long-term momentum.

The trendline, which had underpinned ETH’s price since 2020, briefly flipped into resistance earlier this year but was retaken following a sharp 23% rebound this fortnight.

ETH/USD now trades above $3,150 and appears to be targeting the next major resistance near $4,100—its March 2024 high. This move also puts Ether back above its 50-week EMA, further reinforcing the bullish setup.

Holding this trendline could validate a broader breakout structure, with bulls eyeing a return to previous all-time highs over the coming months.