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📉 ETH Supply Is Rapidly Leaving Exchanges

Over the past 30 days, 1,200,000 ETH (~$5.7B) has been withdrawn from centralized exchanges. That’s an average of 40,000 ETH per day leaving public order books and moving into cold storage, staking, or institutional custody.

Why this matters:

• Lower liquid supply means less ETH available for immediate sale, which historically puts upward pressure on price when demand rises.
• Post-EIP-1559 and with staking lockups, ETH is already structurally deflationary. Combined with massive outflows, we’re looking at a supply crunch scenario similar to Bitcoin’s post-halving rallies.

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📊 ETH ETFs Are Stealing the Spotlight From BTC

Yesterday, spot ETH ETFs brought in $729M in net inflows, overtaking Bitcoin ETFs for the day.

Why this matters:

• ETF flows are a direct pipeline of fiat into crypto markets — each dollar represents real asset purchases.
• Beating BTC inflows, even briefly, signals rotational capital moving into Ethereum.
• This aligns with Fundstrat’s call that ETH could reach $12K–$15K by year-end if the ETH/BTC ratio moves toward its historic highs (~0.14).

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🦊 MetaMask Prepares to Launch mUSD Stablecoin

According to insider reports, MetaMask will reveal details of its native stablecoin, mUSD, this week.

Why this matters:

• MetaMask is the most widely used Ethereum wallet, with millions of active monthly users.
• A native stablecoin could create instant liquidity across the Ethereum DeFi ecosystem.
• mUSD integration would keep users — and their capital — inside the MetaMask ecosystem, further increasing demand for ETH as gas for transactions.

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🏦 Google Play Confirms Non-Custodial Wallets Are in the Clear

Google Play clarified that its crypto app restrictions do not apply to non-custodial wallets.

Why this matters:

• Wallets like MetaMask, Rabby, and Trust Wallet remain free to operate without additional regulatory hurdles.
• This means global user onboarding into Ethereum DeFi remains uninterrupted on the largest mobile app store.
• Non-custodial wallets are the gateway to self-custody — critical for mass adoption without relying on centralized exchanges.

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📈 Ark Invest Bets $172M on Bullish Exchange

Cathie Wood’s Ark Invest purchased $172M in shares of the Bullish crypto exchange.

Why this matters:

• Ark has a track record of identifying long-term industry winners — they rode early gains in Circle, Coinbase, and Grayscale products.
• Bullish is a hybrid exchange combining deep liquidity pools with regulatory compliance, making it attractive for institutional traders.
• Ark’s move signals confidence in crypto market structure growth, even in a volatile macro environment.

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🚀 SpaceX’s Bitcoin Treasury Crosses $1B

Elon Musk’s SpaceX now holds over $1 billion in BTC on its balance sheet.

Why this matters:

• Musk already has personal and corporate exposure to BTC through Tesla — now SpaceX is joining the list of corporations holding Bitcoin as a reserve asset.
• Corporate treasuries entering crypto reduce public float and normalize digital assets as a standard part of balance sheet management.

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💡 The Bigger Picture

Let’s connect the dots:

• Supply-side squeeze: ETH is leaving exchanges at record pace.
• Demand-side push: Institutional money is flowing in through ETFs, sometimes faster than into BTC.
• Liquidity infrastructure: MetaMask is building a native stablecoin layer, while mobile distribution channels like Google Play remain open to non-custodial wallets.
• Institutional positioning: From Ark Invest to Elon Musk’s SpaceX, big players are securing exposure to core crypto assets.

When supply drops and demand accelerates simultaneously, price action tends to be non-linear. If Fundstrat’s model plays out, the $12K–$15K ETH target isn’t just possible — it might be conservative.

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With experience and realism,
George Zimmerman
Your broker & market partner