Over the past five years, 15.3 million ETH have been removed from exchanges, with 1 million ETH withdrawn in the last month alone.
Whales have increased their holdings significantly, adding 450,000 ETH since April, leading the 20 largest ETH wallets to collectively hold a record 40.75 million ETH.
Ethereum's presence on centralized exchanges is at its lowest in over a decade, with only 4.9% of its supply on exchanges, indicating a trend of long-term holding and institutional accumulation.
Institutional interest in Ethereum is growing, with Ethereum spot ETFs seeing significant inflows recently. The upcoming decision on Ethereum ETFs engaging in staking could further drive ETH demand.