Ethereum shock on exchanges: The significance for the ETH price

The amount of Ethereum held on crypto exchanges has fallen to 14.9 million ETH, according to data from Glassnode. This means exchange holdings are at their lowest level since 2016.

In April, the value was still over 18 million ETH – since then, more than three million ETH have flowed out.
This is also demonstrated by the persistently negative value of the net position change on exchanges. This indicator measures the difference between Ethereum deposits and withdrawals on centralized platforms.

The data show regular net outflows since the beginning of 2021, some in the millions, with a more recent sharp decline in the second and third quarters of 2025.
Accordingly, investors are increasingly transferring their ETH holdings to self-custody, DeFi, or staking. The decline also reduces the directly available ETH supply on the market—with increasing demand, this leads to rising prices.
The increasing supply shortage is also due to Ether ETFs and new treasury companies that have withdrawn many ETH from the market in recent weeks.
ETH has risen by eleven percent over the past 30 days. At the time of writing, the second-largest cryptocurrency by market capitalization is trading at $4,190.
You can read about which price levels are now important here: Ethereum on the rise: Will the all-time high fall this week?

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