Definition. This chart presents the percent of circulating ETH held within exchange balances, within smart contracts, or staked on the Beacon Chain, drawn as individual overlaid lines alongside price (grey):

• 🟠 Supply Held on Exchanges.

• 🔴 Supply Held within Smart Contracts.

• 🟣 Supply Staked on the Beacon Chain.

Technical. The exchange and smart contract shares come directly from their relative supply distribution metrics, and the staked share is computed as:

• Percent Supply Staked = Effective Balance / Circulating Supply 🟣

using the aggregate effective balance of the active validator set. Note that the Supply in Smart Contracts metric counts staked ETH as contract-held, so the 🔴 and 🟣 lines overlap rather than sum. Unlike the stacked companion chart, each line here shows its own share independently, making the individual levels directly readable.

Interpretation. Read together, the three lines describe where ETH supply is committed: the exchange share proxies immediately sale-ready supply, the smart contract share captures coins deployed into DeFi and other on-chain applications, and the staked share captures coins bonded to consensus. Persistent divergence between a falling exchange share and rising contract/staking shares has characterized the maturation of Ethereum's on-chain economy, progressively reducing the liquid portion of supply; reversals of that pattern flag de-risking, unstaking pressure, or capital rotating back toward exchanges.

Notes. Built from Exchange Balance (Percent), Supply in Smart Contracts, Total Effective Balance and Circulating Supply. For the stacked composition view of the same shares, see Supply Macro Distribution.