Институциональные инвесторы увеличивают запасы Ethereum, снижая предложение на биржах Translation: Institutional investors are increasing their Ethereum holdings, reducing supply on exchanges.

The price of the second-largest cryptocurrency fell below $4,000 as reserves of the asset on centralized exchanges reached their lowest level since 2016.

At the time of writing, Ethereum is trading at approximately $4,015.

Since mid-2020, the supply of Ethereum on trading platforms has been decreasing. In the past two years, the available amount of the asset on exchanges has dropped by nearly 50%. The outflow of funds intensified in mid-July, when balances fell by 20%.

According to Glassnode, there are 14.8 million ETH left on centralized platforms.

CryptoQuant confirmed this trend, noting that the ratio of exchange reserves to the total supply of Ethereum has reached 0.14 — the lowest level since July 2016.

A decline in balances on centralized exchanges typically indicates that investors are transferring assets to cold wallets, engaging in staking, or moving them into the DeFi sector to generate yield.

The main driver behind the outflow has been significant accumulation of Ethereum by large holders and investment funds.

Since April, approximately 68 organizations have acquired 5.26 million ETH for around $21.7 billion, according to StrategicEthReserve. This represents 4.3% of the total asset supply. Most of these coins are being sent to staking rather than being held on exchanges.

Spot Ethereum ETFs in the US have also attracted considerable investment. They currently manage 6.75 million ETH, worth nearly $28 billion (5.6% of the total issuance).

Thus, around 10% of the total supply has shifted to institutional structures, with accumulation rates accelerating in recent months. BTC Markets analyst Rachel Lucas referred to this phenomenon as «the Wall Street transformation of Ethereum.»

@ethereum is receiving a Wall Street makeover. Treasuries are stacking ETH, exchange supply has hit a 9-year low, and Tom Lee is predicting a price range of $10K to $15K by year-end. BitMine holds 2.4 million ETH. @btcmarkets

Amidst this backdrop, Ethereum has reclaimed its dominance in USDT stablecoin supply, surpassing the TRON network. USDT’s market capitalization on Ethereum has reached $80 billion, as reported by The Block.

Preferences for stablecoin infrastructure are changing. Despite lower fees on the TRON network, users are increasingly opting for the developed DeFi ecosystem and institutional Ethereum.

The daily transaction count for stablecoins on the blockchain of the second-largest cryptocurrency is approaching 1 million. This indicates active use of USDT for payments and settlements rather than just static holding.

Ethereum’s return as the primary network for USDT coincides with the integration of stablecoins by traditional financial firms. Their choice in favor of Ethereum may strengthen its position as the key settlement layer for advanced financial products.

Recall that in September, Joseph Shalom, the head of SharpLink Gaming, stated that the ultimate goal is to transition traditional financial structures onto the blockchain.