Ethereum's supply on cryptocurrency exchanges has reached a 7-year low, signaling a strong hodling trend and a potential bullish outlook. The reduced exchange supply, currently at $2,641.87, has contributed to a 4.59% price increase in the past 24 hours, though it remains below the $3,000 threshold. Institutional interest, spurred by the approval of Ethereum-based ETFs like BlackRock's iShares Ethereum Trust, has led to $321 million in recent inflows. The transition to a proof-of-stake model has also resulted in a deflationary supply, further supporting Ethereum's bullish trajectory. As the cryptocurrency market experiences renewed interest, Ethereum's performance among top tokens suggests that surpassing the $3,000 level could shift market sentiment and drive further growth.