Analyst says exchange-held ETH supply continues to shrink

BTC and ETH are showing a clear divergence in exchange supply trends, according to Leon Waidmann, chief analyst at Lisk (LSK). In a post on X, Waidmann said exchange-held balances now account for 16.5% of Bitcoin’s total supply and under 12.7% of Ethereum’s, adding that BTC’s exchange share has seen little change while ETH has continued to flow off exchanges. Waidmann said the trend is creating a structure in which the amount of ETH available for trading on exchanges is gradually declining.