ETH exchange supply falls to 6.06M, an 11-year low, as BitMine nears 5% of issuance
- —ETH exchange supply fell to 6.06 million from 22.9 million in June 2020 (-73%)
- —BitMine added 27,180 ETH over the week and holds 5,956,378 ETH — 4.9% of issuance
- —The company staked 5,067,309 ETH (85% of reserves), expecting $334 million in annual income
- —Ethereum ETFs attracted $197 million for the week and $121 million on Monday
Why it matters: The shrinking liquid supply makes ETH more sensitive to demand, but the outcome depends on the CLARITY Act vote and the Fed meeting.
Source: Blockonomi