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Secondo Odaily, Sui Chung, CEO di CF Benchmarks, ha dichiarato in un'intervista che tutti i precedenti normativi indicano che i token ETH dovrebbero essere classificati come "commodity". Questa affermazione arriva nel mezzo delle discussioni in corso sulla natura e la classificazione delle varie criptovalute. L'affermazione di Chung si aggiunge al crescente consenso tra i leader del settore sullo status dei token ETH. I suoi commenti si basano su precedenti normativi esistenti, suggerendo che la classificazione dei token ETH come materie prime non è un concetto nuovo, ma piuttosto una visione ampiamente accettata nel settore. Tuttavia, è importante notare che la classificazione delle criptovalute può variare a seconda della giurisdizione e dello specifico organismo di regolamentazione coinvolto. Pertanto, sebbene i commenti di Chung forniscano informazioni su una prospettiva, non rappresentano necessariamente un punto di vista universalmente accettato. Questa notizia evidenzia il dibattito in corso sulla natura delle criptovalute e sul loro posto all’interno del sistema finanziario globale. Poiché il settore continua ad evolversi, la classificazione e la regolamentazione delle criptovalute come l’ETH rimarranno probabilmente un argomento di discussione.

On the surface, the on-chain picture looks constructive. The Exchange Supply Ratio on Binance continues to trend downward, meaning fewer $ETH are being held on the exchange. Traditionally, that metric is interpreted as bullish — declining exchange balances suggest reduced immediate selling pressure and a shift toward long-term holding behavior.
But markets don’t move on isolated metrics. They move on demand.
And right now, price action tells a very different story.
Despite the steady decline in exchange supply, ETH continues to struggle. Price has been trending lower, momentum remains weak, and rallies are being sold into. When supply is shrinking yet price cannot stabilize — let alone rally — it exposes the real issue: demand is not strong enough to absorb existing pressure.
A falling exchange balance does not automatically equal bullish accumulation. It can mean coins are moving to staking contracts. It can mean OTC transfers. It can mean internal reallocation between wallets. What it does not guarantee is aggressive spot buying.
If fresh capital were entering the market, reduced exchange supply would amplify upside volatility. Instead, we’re seeing the opposite — shrinking balances paired with fading price. That disconnect is a sign of structural weakness, not hidden strength.
The broader context matters.
Liquidity across crypto remains thin compared to peak cycle conditions. Risk appetite is subdued. Institutions are selective. Retail participation is significantly lower than during prior expansion phases. Without new inflows, reduced supply alone cannot push price higher.
Derivatives markets are playing a major role here. Even as spot supply declines, perpetual futures positioning and funding dynamics can suppress price. If shorts are opening aggressively and funding remains skewed, price can grind lower regardless of exchange balances. In bear environments, derivatives often dictate short-term direction more than spot flows.
Technical structure reinforces this caution.
The 50-day and 100-day simple moving averages are both sloping downward. Trend momentum has not flipped. Lower highs continue to form. Until those structural elements change, on-chain metrics remain secondary confirmations — not primary catalysts.
It’s important to understand sequence:
First, trend shifts.
Then demand strengthens.
Only after that do declining supply metrics amplify expansion.
Right now, we are missing step one.
This doesn’t eliminate upside potential. In fact, a declining exchange supply ratio can create asymmetry. If short positioning becomes overcrowded and price finds a catalyst — macro relief, ETF flows, or sudden spot demand — the reduced supply could intensify a squeeze. Thin order books combined with forced covering can produce sharp vertical moves.
But that is conditional.
At present, structure suggests a market in defensive mode. Momentum is weak. Liquidity is cautious. Buyers are reactive, not aggressive.
In bull markets, declining exchange balances signal accumulation.
In bear markets, they can simply signal disengagement.
Until $ETH reclaims key moving averages and prints sustained higher highs, the broader narrative remains unchanged: demand is insufficient to support a lasting upward trend.
Low supply is not enough.
Without buyers stepping in with conviction, reduced availability of coins does not create strength — it simply reflects a quieter market.
And in this phase, quiet does not mean accumulation.
It means hesitation.
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I prezzi delle criptovalute sono aumentati durante le negoziazioni di giovedì, sostenuti dall'ottimismo degli investitori riguardo a regolamenti più chiari negli Stati Uniti, nell'ambito dei piani del presidente "Donald Trump" volti a rafforzare la posizione del paese come centro globale per l'industria delle risorse digitali.
Il Bitcoin ha registrato un aumento di oltre l'1% raggiungendo i 67.020 dollari, con una quota di mercato di circa il 58,1% del valore totale del mercato delle criptovalute, il che riflette la sua continua dominanza nel settore.

South Korean prosecutors have recovered $21 million worth of bitcoin that was stolen from their custody last year.
authorities blocked centralized exchange transactions involving the stolen assets, though prosecutors said the hacker’s identity remains unknown.
The hacker returned the bitcoin after authorities blocked centralized exchange transactions involving the stolen assets, though prosecutors said the hacker’s identity remains unknown
South Korean prosecutors have recovered roughly $21.4 million worth of bitcoin
BTC-1.53%
stolen from their custody last year, according to local media report
Last December, the Gwangju District Prosecutors' Office discovered that they had lost the bitcoin seized from a raid on a gambling platform. An internal investigation revealed that the bitcoin was hacked in August after investigators mistakenly accessed a phishing website and entered recovery seed phrases.
On Tuesday, the hacker returned 320.8 BTC to the wallet held by authorities, local news outlet Digital Asset reported. Prosecutors said they had blocked centralized exchange transactions involving the hacker's wallet, making it difficult to liquidate the bitcoin. The hacker’s identity remains unknown.
Prosecutors have since moved the returned bitcoin to a local exchange for safekeeping and will continue to track down the hacker's identity, the report said.
Meanwhile, the incident has prompted a nationwide review of investigative agencies' management of seized digital assets. Last week, the investigation revealed that the Seoul Gangnam Police Station has also lost track of 22 BTC stored in a cold wallet since 2021.
The Gyeonggi Bukbu Provincial Police Agency confirmed with The Block that it has launched an internal probe to determine the exact circumstances of the leak and whether there was any internal involvement.
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Tutti osservano il prezzo di ETH…I soldi intelligenti osservano l'offerta di ETH. 👀Ecco cosa sta accadendo silenziosamente 👇🔥 L'offerta di Ethereum sta diminuendo.L'incenerimento di ETH continua a causa dell'attività on-chain.L'ETH in staking è bloccato, non commerciabile .La pressione dell'offerta circolante continua a ridursi .📉 Meno ETH disponibile + domanda costante = configurazione di compressione a lungo termine .🧱 Staking = mani di diamante nascoste
Milioni di ETH sono ora in staking, il che significa:.I detentori stanno pensando a lungo termine.La pressione di vendita è inferiore ai cicli passati.Ethereum si sta lentamente trasformando in un bene che genera rendimento.💡 ETH non è più solo detenuto — è parcheggiato.