<ul><li>Ethereum's supply on exchanges has dropped to an all-time low, falling below 4.9%, the lowest level recorded in its 10+ year history, indicating a significant shift in investor behavior.</li><li>This decline in exchange supply is seen as a bullish indicator for Ethereum, with the sentiment surrounding the cryptocurrency turning increasingly positive amidst its current price recovery to around $2,530.</li><li>The decrease in ETH available for trading on exchanges can be linked to increased staking activity since the Ethereum 2.0 upgrade, leading to a limitation in spot selling pressure and a decline in exchange liquidity.</li><li>On-chain data also reveals large acquisitions of ETH by whale wallets and the confirmation of a Golden Cross on ETH's 12-hour chart, potentially setting the stage for a price breakout towards $3,000 and beyond.</li></ul>

Ethereum Exchange Supply Hits Historic Low Below 4.9% — Is Price Breaking $3,000 Soon?

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