Ethereum Exchange Supply Drops to 2017 Levels as Staked ETH Reaches Record 37.25 Million

Ethereum supply on exchanges has fallen to levels last seen in 2017, while total staked ETH hit an all-time high of 37.25 million, worth roughly $73.35 billion, tightening available market liquidity. More than 410,000 ETH, approximately $808 million, has been added to staking contracts from Feb. 1 to present, reducing tokens available for short-term trading. The number of deposit addresses sending Ethereum to trading platforms has dropped sharply to around 4,000, and exchange reserves have declined, indicating fewer coins are immediately available for sale. Spot demand on centralized exchanges remains uneven, with net inflows of about $412 million on Feb. 1, easing to roughly $56.81 million by Feb. 12, before a single-day rise to approximately $473.84 million on Feb. 15, leaving a tighter supply backdrop that could amplify price moves if buying activity intensifies.