The supply dynamics of Ethereum have shifted significantly, with 110,000 ETH worth $181 million moving off exchanges in a single day. This marks the most substantial movement away from exchanges since August 21st and reflects a growing trend among Ethereum holders. Currently, the amount of Ethereum held outside of cryptocurrency exchanges has reached an all-time high of 115.88 million ETH, while the supply of Ethereum available on exchanges has dwindled to its lowest level in approximately 5.5 years. This trend suggests strong HODLer sentiment and reduced selling pressure, but it's important to acknowledge the potential for market volatility.