Ethereum surpassed $4500: what is behind the new price record?
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At the same time, there is a sharp decline in the volumes of ETH on centralized exchanges. According to Santiment, only 17.26 million ETH is currently stored on the largest trading platforms — the lowest figure in the last three years. For comparison, in September 2022, more than 28.8 million coins were on exchanges. This trend indicates that investors are increasingly preferring to withdraw assets from trading circulation, choosing a long-term accumulation strategy.
Not long ago, Joseph Lubin — co-founder of Ethereum and CEO of ConsenSys — suggested that with the current development vector, Ethereum could increase in value a hundredfold compared to its current level. Although such forecasts seem bold, they are confirmed by real market shifts: large-scale withdrawal of coins from circulation and growing interest in staking and off-exchange storage are forming a solid foundation for the potential continuation of a bullish trend.
«Whales» are going into holding — ETH is disappearing from exchanges
Since April 2025, large holders of Ethereum have started actively replenishing their reserves: over several months, their total assets have increased by 14%, corresponding to the purchase of 5.54 million ETH. Today, their wallets hold 42.5 million Ethereum — assets worth about $186.4 billion, or almost a third (35%) of the total existing supply of the second-largest cryptocurrency by market capitalization.At the same time, there is a sharp decline in the volumes of ETH on centralized exchanges. According to Santiment, only 17.26 million ETH is currently stored on the largest trading platforms — the lowest figure in the last three years. For comparison, in September 2022, more than 28.8 million coins were on exchanges. This trend indicates that investors are increasingly preferring to withdraw assets from trading circulation, choosing a long-term accumulation strategy.
Supply compression fuels appetite for growth
Analysts note: the ongoing reduction of liquid Ethereum supply creates conditions for a sustainable deficit in the market. When there are fewer coins available, even moderate demand growth can exert significant upward price pressure. This is especially relevant in conditions where institutional and private investors are increasingly viewing ETH not as a means for speculation, but as a digital asset with growth potential.Not long ago, Joseph Lubin — co-founder of Ethereum and CEO of ConsenSys — suggested that with the current development vector, Ethereum could increase in value a hundredfold compared to its current level. Although such forecasts seem bold, they are confirmed by real market shifts: large-scale withdrawal of coins from circulation and growing interest in staking and off-exchange storage are forming a solid foundation for the potential continuation of a bullish trend.