CoinWorld news, The DeFi Report founder Michael Nadeau posted data on X indicating that the 'supply shock' of ETH is occurring. Since the third quarter, the supply of ETH on centralized exchanges (CEX) has decreased by 6.7%, reaching a new low since July 2016. As ETH asset management institutions gradually begin to implement on-chain strategies to increase returns and the value per ETH, this figure is expected to continue to decline, with more funds shifting to on-chain potentially triggering further reflexivity— as price trends improve, on-chain activity (and fundamentals) will also improve simultaneously.