[BitMine Holds Approximately 3% of Ethereum's Total Supply, Supply Contraction May Trigger Price Volatility] CryptoOnchain posted an analysis on the X platform, stating that BitMine currently controls approximately 3% of Ethereum's total supply, equivalent to 3.7 million ETH. Over the past 30 days, net outflows from exchanges reached $1.6 billion, reflecting a large-scale accumulation trend. Exchange reserves have significantly declined, with a single-day outflow of $3.1 billion on November 23, setting a historical record. The number of withdrawal addresses exceeded deposit addresses by 40%. Staking deposits have reached an all-time high, and with whales like BitMine absorbing circulating tokens, market depth continues to shrink, forming a scenario of supply contraction. Data indicates that as the tradable supply decreases, new buying pressure could potentially trigger a significant surge in ETH prices.