Ethereum Exchange Supply Hits Historic Low Below 4.9% — Is Price Breaking $3,000 Soon?

This historic low can be partially attributed to the rise in ETH staking in the past five years, especially since the launch of the Ethereum 2.0 upgrade. The side effect of this has been a continued decline in exchange liquidity. However, this decline also limits the amount of ETH available for spot selling, thereby reducing the kind of sell pressure that typically causes sharp price drops during market corrections.

source