#Ethereum has recently started generating strong signals that we haven't seen in a long time, both in terms of on-chain data and institutional activity. A historic decline in exchange supply, the acceleration of ETF inflow, and key network updates strengthen Ethereum's long-term outlook.

Ethereum's supply on centralized exchanges has dropped below 4.9%, the lowest level in the network's history over the last decade. A total of 15.3 million ETH have been withdrawn from exchanges over the past five years, indicating that investors are increasingly preferring to hold their assets rather than sell them. In the last month alone, an additional 1 million ETH have left exchanges, confirming that the trend is accelerating.

This development is very positive from an on-chain perspective, as it implies a reduction in selling pressure and the potential for upward momentum. Notably, whale wallets have accumulated 450,000 ETH since the end of April, and wallets holding more than 10,000 ETH now collectively own 40.75 million ETH - clear signs that large investors are repositioning in the market. Institutional inflow via ETFs is also contributing to establishing a solid support level for ETH at current prices.