币界网报道:Ethereum's circulating supply has tightened significantly as demand surges, with over 21% of ETH staked or locked in DeFi protocols. The reduced liquid supply is driving upward price pressure, with ETH outperforming Bitcoin in recent weeks. Major institutional players are reportedly accumulating ETH, anticipating further price appreciation ahead of potential ETF approvals. On-chain data shows exchange reserves at multi-year lows, indicating strong holding sentiment among investors. The upcoming Ethereum network upgrades, including EIP-4844, are expected to further boost demand by reducing transaction costs and improving scalability.