2025-12-18 09:51:03

#BinanceABCs $ETH On-chain signals are frequent; this round of market movement is worth paying attention to.

Exchange ETH holdings are shrinking. Data shows that the circulating supply on exchanges has hit a low not seen since 2016, which is a 9-year gap. Simply put, selling pressure is drying up, and fewer chips are available for dumping.

Interestingly, the Bhutan government has also participated. They staked 320 ETH, worth over $900,000. A sovereign government stepping in with real funds sends a clear signal.

Whale activity further illustrates the situation. A large holder with the ID 1011 holds over 200,000 ETH. Despite an unrealized loss of $69.42 million, they continue to add to their position—classic bottom-fishing mentality. Large funds often have a clearer logic than retail investors.

From these perspectives, the fundamentals of ETH are gradually improving. Tightening exchange supply + institutional buying + whale accumulation—this combination points in a very clear direction. No matter how loud the bears' voices are, they can't change the real on-chain data.

What are your thoughts on this market movement?

ETH1.07%

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ImpermanentSage

· 12-18 20:09

The Bhutanese government really stepped in, which is incredible. The recognition of ETH by the sovereign fund shows what... On-chain data never lies. When exchanges can't shake it, it's time to think more.

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BloodInStreets

· 12-18 10:20

The bottom-fishing signals are all over the place, but I still think this set of arguments is a bit too optimistic... Exchanges running out of chips is indeed an issue, but it’s not directly related to whether the price goes up or down. I was looking at similar signals last year, and I still got hammered. The $900,000 from the Bhutan government sounds impressive, but in the context of the entire market, it’s not really a significant amount... Official endorsements can indeed boost confidence, but the question is, does government spending necessarily mean profit? Not necessarily. Whales are still losing $69.42 million and adding more. This either means they are truly smart or they are trapped and fooling themselves. I think the latter is quite likely...

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MetaverseMigrant

· 12-18 10:19

Exchanges' short positions are all exhausted, yet whales are still losing and adding positions. This logic really can't hold up anymore.

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ShitcoinConnoisseur

· 12-18 10:11

Bhutan government steps in? This signal is indeed top-notch, indicating that major institutions are quietly accumulating. Exchange holdings are at a 9-year low, I need to pay attention to this; it really feels like it's about to rise. Whales are still adding positions despite floating losses; I can't learn this mindset, but it indeed indicates a problem. Can this round break the previous high, or will it just sideways grind again? On-chain data is right here; no matter how much the bears shout, it can't change the overall trend.

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GateUser-beba108d

· 12-18 10:04

Exchanges are running out of stock, whales are still frantically buying the dip, this signal is no joke, honestly it's amazing. With unrealized losses of nearly 70 million, still daring to add positions, now that's called faith. Retail investors will never learn. The Bhutan government is stepping in, hilarious— even the country is buying up assets, and the bears are still stuck there. The nine-year low is not without reason; there are only so many chips, and fewer and fewer bagholders are taking over. Looking at on-chain data is much more reliable than listening to analyst hype. No one can stop this rally.

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