Analysis: The supply of ETH on the exchange continues to decrease, and holders are still participating in staking

According to Cointelegraph, during the consolidation period of Ethereum prices, the supply of ETH on exchanges has continued to decrease, while holders are still participating in staking.

Data analysis platform Santiment reports that since the exchange's ETH supply reached a peak of 12.31 million in July 2025, the number has steadily declined to 8.15 million. Analysts believe that the ongoing interest in staking amid a backdrop of reduced market volatility is the main reason for the decrease in exchange supply. Currently, the total amount of staked Ethereum has exceeded 36 million, accounting for about 29% of the circulating supply, with 3.6 million ETH queued to enter staking, and the estimated waiting time is about 63 days. Meanwhile, some large holders continue to accumulate and stake ETH; for example, Bitmine has staked over 2.5 million ETH, accounting for about 61% of its total holdings.