CryptoQuant: The ETH exchange platform inventory has hit a nearly 3-year low, with an accelerated withdrawal situation occurring over the past 3 months

ChainCatcher message, according to data from CryptoQuant, since peaking at around 28.8 million in 2022, the ETH exchange platform reserves have decreased by nearly 10.7 million coins. The current reserve is approximately 17.4 million ETH, with about 2.5 million ETH withdrawn from exchanges in just the past three months.

Data shows that the spot ETH ETF launched in July 2024 has attracted over $13 billion in net inflows to date. During the period from June to August, these funds saw net inflows exceeding $10 billion, with a record $5.4 billion in July alone. Corporate bonds are also driving demand. In recent months, several publicly traded companies have announced the issuance of ETH bonds, and the regular purchases by corporations have impacted the supply of ETH on exchanges, with 17 known publicly traded companies holding a total of over 3.6 million ETH on their balance sheets.

An analyst from Bitfinex stated that one of the main attractions of ETH as a reserve asset is its yield potential. "Unlike Bitcoin, ETH is both a macro asset and a productivity asset; it generates returns through staking and has over $100 billion in tokenized assets in the L2 and DeFi sectors."