🚨 $ETH SUPPLY SHOCK LOADING… AND THE DATA IS SCARY BULLISH

Ethereum’s exchange balances just hit an all-time low — and the chart tells the whole story.

I looked deeper into the latest Glassnode and on-chain reports, and here’s what’s actually happening:

ETH on exchanges has collapsed to just 8.84% of total supply.

For context:

• In 2020, this was above 20%

• Even in the 2022 bear market, it sat around 17%

• Today, it’s the lowest in Ethereum’s history

This is a textbook supply shock setup.

Here’s why it matters:

• When ETH leaves exchanges, it means people aren’t selling — they’re staking, locking, or holding long-term.

• Post-merge ETH issuance is already ultra-low — Ethereum has been near-neutral or deflationary.

• ETF demand is quietly building, and institutions don’t want to chase liquidity on exchanges.

• Meanwhile, retail hasn’t even returned yet.

So you have shrinking sell supply + rising structural demand.

That combination doesn’t create small moves… it creates explosive upside when demand pressure finally hits.

Everyone is watching Bitcoin’s supply squeeze but the real stealth play might be staring us in the face.

ETH looks primed for its own supply shock moment.