💎 Ethereum Thesis: Declining Supply, Rising Demand
On June 30, 2026, Ethereum
$ETH at $1,583.92 presents a compelling supply-demand setup. Since the Merge, net ETH issuance has been minimal. Bitmine accumulating 5.7M tokens removes significant supply from circulation.
Exchange ETH balances are declining steadily, reducing liquid supply available for trading. Meanwhile, institutional demand channels — ETFs, corporate treasuries, sovereign funds — are expanding. The supply-demand imbalance is structural, not cyclical.
📌 Key Takeaway:
Ethereum's declining exchange balances, reduced issuance, and growing institutional demand create a structural case for higher ETH prices.
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