ETH Said 'Not for Sale' While BTC Got Flushed to Binance

Ethereum [ETH] appears to be flexing harder than Bitcoin [BTC] in this market. While BTC has been hemorrhaging sellers like a DeFi protocol with a misconfigured contract, ETH has been chilling with unusual composure.

Here's the beautiful part: Ethereum's float on the open market has been on a diet lately because staking rates hit a new all-time high. Roughly 40 million ETH are now staked away, up from a mere 18 million in 2021. To put that in perspective, about one-third of the total supply has basically ghosted the trading pool.

Additional data showed netflows were slightly negative at press time, with the reserve ratio lounging at near neutral levels. No one's exactly rushing to the exits. With fewer tokens available for action, near-term sell pressure tends to take a back seat. This gives Ethereum some serious street cred during turbulent times.

Meanwhile, on the other side of the ring, Bitcoin data revealed positive netflows and a rising reserve ratio. More Bitcoin has been flooding onto Binance lately, relative to existing exchange reserves. Translation: the Satoshi has been hitting the exchange portals like it's time to cash out.

These inflows have picked up alongside the crypto's recent price recovery, riding the wave of Iran-U.S. ceasefire optimism. Some traders might be treating