The supply of Ether held on exchanges is at levels last seen during its FIRST year in operation, 2015-2016.
Interestingly, while BTC also experienced a decline in supply since 2020: buoyed by a significant marketing push - its current levels have only returned to levels last seen in 2018, its ninth year.
Also both ETH and BTC are down around 30% in exchange supply from their 2021 highs, showing identical trends in supply contraction, aka inferred demand.
Despite Bitcoin's strong marketing presence from proponents like Saylor's "Strategy" and a newly pro crypto government in the U.S., and Ethereum's notable lack of marketing, ETH's fundamentals appear to speak for themselves, as demand continues to grow, with Ether steadily moving into long-term investor holdings at the same pace as BTC.
Written by Papi
