Ethereum exchange reserves have dropped to their lowest point in three years as institutional demand continues to drain supply from trading platforms. Current holdings on centralized exchanges stand at approximately 17.4 million ETH, down nearly 10.7 million tokens since September 2022.
The decline accelerated in recent months, with 2.5 million ETH leaving exchanges over the past three months alone. This represents a 38% drop in exchange reserves since the 2022 peak of 28.8 million ETH.
Spot Ethereum ETFs have emerged as a primary driver of the supply shortage. Since launching in July 2024, these investment products have attracted more than $13 billion in net inflows according to CoinGlass data.
BlackRock’s iShares Ethereum ETF leads the pack with over $16 billion in assets under management. The fund has become one of the fastest-growing ETFs on record since its debut.
July marked a particularly strong month for ETF inflows, with the products pulling in $5.4 billion. Between June and August, total net inflows exceeded $10 billion across all spot ETH ETFs.
Corporate treasuries represent another growing source of demand. Seventeen publicly traded companies now hold Ether on their balance sheets, controlling more than 3.6 million ETH collectively.
SharpLink Gaming stands out as an early adopter, launching its ETH treasury strategy in May 2025. The company has accumulated 797,704 ETH worth approximately $3.5 billion through a $425 million private placement.
BitMine Immersion Technologies revealed in July that it holds about 1.86 million ETH, representing roughly 1.5% of the token’s total supply. The Ether Machine announced 495,000 ETH in holdings and plans for a Nasdaq listing in September.
Companies cite ETH’s yield-generating capabilities as a key attraction compared to Bitcoin. Unlike Bitcoin, Ethereum allows holders to earn rewards through staking while helping secure the network.
The staking queue reflects this growing interest. On Tuesday, 860,369 ETH worth about $3.7 billion was waiting to be staked, reaching the highest level since 2023.
Whale behavior shows mixed signals across different holding categories. The largest whales, those holding over 10,000 ETH, drove significant accumulation in August with net inflows of 2.2 million ETH over 30 days.
In August, #ETH’s biggest holders moved in opposite directions. Mega whales (10k+ $ETH) drove the rally with net inflows peaking at +2.2M $ETH (30d), but their accumulation has now paused. Meanwhile, large whales (1k–10k $ETH), after weeks of distribution, are back in… pic.twitter.com/vuDxopPVzV
— glassnode (@glassnode) September 3, 2025
However, this group has since paused their buying activity. Meanwhile, large whales holding between 1,000 and 10,000 ETH have resumed accumulating after weeks of selling pressure.
ETH currently trades at $4,439.08 with a market cap of $529.30 billion and 24-hour trading volume of $63.71 billion. The price has gained 1.52% over the past day.
Technical indicators suggest building momentum. The Relative Strength Index sits at 52.74, indicating neither overbought nor oversold conditions. This level provides room for potential upward movement.
The MACD shows positive momentum with the main line at 80.86 and signal line at -55.29. The positive crossover indicates improving trend strength with the histogram showing upward momentum.
I know I said $ETH should head slightly lower, but here's another chart telling a different story.
Ethereum is sitting on a strong bullish OB and also forming a bullish divergence. All we need now is a breakout from its bearish trendline to confirm the reversal. pic.twitter.com/aeekkoxbAc
— BATMAN ⚡ (@CryptosBatman) September 3, 2025
Chart analysis reveals ETH forming a bullish divergence while trading above key support levels. A breakout above the current bearish trendline could signal a trend reversal and trigger additional buying.
The current price action follows ETH staking reserves reaching 35 million tokens as liquid supply continues declining across the ecosystem.
The post Ethereum (ETH) Price: Whale Accumulation Resumes as Reserves Hit 3 Year Low appeared first on CoinCentral.
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