Ethereum Supply Plummets: Is $3,000 ETH in Sight?

Over the past five years, approximately 15.3 million Ethereum (ETH) have been taken off exchanges. In just the last month alone, a further 1 million ETH were removed, highlighting a significant decrease in supply. Furthermore, whales – large cryptocurrency investors – have boosted their holdings, adding a remarkable 450,000 ETH since April, contributing to a record 40.75 million ETH held across the top 20 largest ETH wallets. This trend of decreasing supply on exchanges raises questions about Ethereum’s future and could potentially signal an upward trajectory towards $3,000 ETH for investors.