ETH exchange reserves hit record low amid weak spot demand
ETH exchange reserves hit a record low. Derivatives surge as spot stays quiet.
Headline
ETH reserves sink to record low. Futures volume tops $49B.
Key data
- Exchange reserves fell 77% from the 2021 peak. Record low per CryptoQuant.
- The decline sped up since late 2025. Same source.
- ETH futures volume passed $49B in 24h. Open interest also climbed, per CoinGlass.
- Futures saw $1.2B in net inflows. Same CoinGlass data.
ETH keeps leaving exchanges. Holders move coins to cold storage. Or stake them. Supply on venues tightens.
Spot demand stays weak. Price action is capped. The market watches $2,100 support. A clean breakout has not come.
Derivatives lead the move. Leverage is rising. Spot flows stay flat. That split often brings chop.
The report flags one gap. Supply is shrinking. Buyers have not returned. A stronger trend needs spot bids.
