[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]

![EvanLuthra Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::206930103.png) Evan Luthra [@EvanLuthra](/creator/twitter/EvanLuthra) on x 438.4K followers
Created: 2025-07-25 11:28:23 UTC

Since mid-May, XXXX million ETH quietly left the open market. 

Not sold. Absorbed.

By who? 
ETPs and corporate treasuries.

Meanwhile, the new supply is only XXXXXX ETH.

That’s a 32:1 demand-to-supply ratio.

Let’s unpack this shift, and what it really means for ETH.

![](https://pbs.twimg.com/media/GwsylzIWYAAJaV1.jpg)

XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1948706895113408524/c:line.svg)

**Related Topics**
[ethereum](/topic/ethereum)
[coins layer 1](/topic/coins-layer-1)

[Post Link](https://x.com/EvanLuthra/status/1948706895113408524)