Ethereum's exchange supply has fallen to 14.8 million ETH, marking its lowest point since 2016, according to Glassnode data. This decline is attributed to significant institutional buying and a surge in staking activities, which have led to substantial ETH outflows from exchanges. Since April 2025, major entities have accumulated 5.26 million ETH, redirecting it into staking and decentralized finance (DeFi) platforms. This trend is reducing the circulating supply of ETH, potentially stabilizing short-term market volatility.