Bitcoin, Ether Supply on Exchanges Fell in June: Goldman Sachs
Still, bitcoin miners’ inventory sales climbed to a record as they took advantage of the cryptocurrency’s strong performance, the report said.
The supply of bitcoin () and ether () on exchanges fell in June as ramped-up regulation and crime persuaded holders to prefer self custody, Goldman Sachs (GS) said in a report Tuesday, citing on-chain data.
Supply of bitcoin, the largest cryptocurrency by market cap, dropped 4%, nearing the level of December 2022, itself the lowest since November 2020 – and right before the start of the 2021 bull market, the report said. Ether supply slid 5.8% to levels not seen since May 2018.
This trend is underpinned by a number of factors, the bank said.
“Major centralized spot exchanges are putting investors on alert, cyber hacks and theft continue to be a concern across the crypto markets, highlighting asset holders’ , in line with the popular adage ‘not your keys, not your coins’, and specifically for ether, the enablement of has resulted in investors’ preference to stake ether, instead of passively holding on exchanges,” the report said.
Goldman noted that June was a record month for bitcoin miners’ inventory sales as miners took advantage of the cryptocurrency’s strong performance. Total monthly BTC inflows from miners to exchanges almost doubled from May to $99 million, it said. The bitcoin price rose almost 12%, TradingView data show.
As transaction fees returned to normal in June following the , monthly address activity for bitcoin and ether saw a rebound, gaining 15.5% and 37.5% respectively, the report added. Average daily ether burnt fell by 65.1% and average daily fees dropped by 63.3% on a month-on-month basis, Goldman noted.
Last month also saw an increase in new on-chain activity, with the daily average new address count for bitcoin and ether increasing by 9.8% and 48.2% compared with a month earlier, the note said.
Edited by Sheldon Reback.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Influence of Vitalik Buterin's Support for ZKsync on the Uptake of Layer-2 Solutions
- Vitalik Buterin's 2025 endorsement of ZKsync boosted its ZK token price by 50%, driving institutional adoption and market validation. - ZKsync's Atlas upgrade achieved 30,000 TPS with Ethereum compatibility, raising TVL to $3.3B through enterprise partnerships and GPU-optimized proofs. - Unlike StarkNet's niche scalability or Loopring's trading focus, ZKsync balances Ethereum compatibility, developer accessibility, and enterprise-grade performance. - Deflationary tokenomics and Deutsche Bank partnerships

Evaluating the COAI Price Drop: Key Market Factors and Steps Toward Rebound
- ChainOpera AI (COAI) plummeted from $44.9 to $0.52 in 2025 amid sector rotation to meme coins and governance risks at C3.ai. - Structural vulnerabilities like 87.9% centralized control and coordinated wallet activity exacerbated volatility during market stress. - Technical indicators show mixed signals: bullish RSI divergence contrasts with bearish Money Flow Index trends and weak momentum. - BNB Chain growth and $3.97 support level offer short-term hope, but unresolved governance flaws and regulatory un
AutoHash: The Safest Method to Earn Bitcoin via Regulated Cloud Mining

Nexus is not fully committing to AI, reserving 50% of its latest $700 million fund for startups in India
