Analysis of ETH Capital Distribution in Six Charts

Overall:

· The circulating ETH is rapidly decreasing (increased staking + decreased CEX).

· Institutional funds are entering through ETFs, bringing long-term support and a new round of capital flow.

· Layer 2 is still in its early stages and may become a new growth point for ETH in the future.

In simple terms: ETH is becoming increasingly 'scarce', institutions are buying, retail investors are locking, and exchange capital is at a low, which is favorable for mid to long-term prices.