🔶 #以太坊 : Retail investors retreat, institutions take over! Don't view $ETH ETH with a 2021 perspective anymore.

A quiet but brutal chip exchange has already entered its latter half.
The following 6 sets of data are pushing Ethereum toward a brand new role—
👉 An institution’s profit-making machine + financial infrastructure, rather than retail speculation targets.
🔸 Exchange ETH balance accounts for only 10.5% (historical low)
Liquid chips continue to decrease, and fewer ETH are willing to be “sold at any time.”
🔸 Over 35 million ETH staked, accounting for about 29% of the total circulating supply
Nearly one-third of ETH is locked into the system, becoming long-term assets that “do not participate in selling pressure.”
🔸 Institutional holdings have reached 10.72%
Company treasury: 5.63%
Spot ETF: 5.09%
Among them, BitMine exclusively holds about 4 million ETH (≈3.36%)
👉 This is “allocation,” not speculation.
🔸 ETH supports the RWA market with $12.5 billion
Year-over-year growth of 735%, accounting for 66.6% of the entire RWA market
Real assets are voting with their feet, choosing Ethereum as the settlement layer.
🔸 Stablecoin supply is $172.1 billion, with a monthly trading volume of $1.6 trillion
ETH is quietly becoming the underlying track for global dollar liquidity.
🔸 NFT sales in 2025 are only $2.2 billion
Down 87% compared to 2021
The excitement has faded, and the bubble has receded.
🔸 Google search popularity is far below the last bull market
Retail investor sentiment has clearly retreated, and the market is no longer noisy.
📌 There is only one conclusion:
Ethereum is walking the same path as Bitcoin.
Retail investors surrender chips, institutions complete the takeover.
As ETH in exchanges becomes scarcer,
As lockups and institutional share increase,
As attention fades but infrastructure continues to expand—
👉 This is often not the top, but the night before the next wave.
When the market is quiet,
That’s when chips are most valuable.