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CEX Ethereum Balance Hits Lowest Level Since July 2016, Down 6.7% in Q3 2021 So Far
BlockBeats News, August 12th, Founder of The DeFi Report Michael Nadeau shared in a post that the ETH supply shock is unfolding in real time. In the third quarter so far, ETH on CEXs has decreased by 6.7%. It has now dropped to the lowest level since July 2016.
With ETH treasury-like companies beginning to implement on-chain strategies to increase yield and per-ETH holdings, this number is expected to continue to decline.
More capital flowing on-chain may trigger a stronger "reflexivity" effect, where market activity and fundamentals will further improve with the price trend.
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