Ethereum Reserves on CEX Drop to Lowest Level Since July 2016
On August 12, The DeFi Report founder Michael Nadeau shared that an ETH supply shock is unfolding in real time. So far in the third quarter, ETH on centralized exchanges (CEX) has dropped by 6.7%, reaching its lowest level since July 2016. As ETH treasury companies begin to implement on-chain strategies to boost yields and per-share ETH holdings, this figure is expected to continue declining. More capital flowing on-chain could trigger a stronger reflexivity effect, where market activity and fundamentals further improve as price trends strengthen.
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