According to BlockBeats news, on August 12, The DeFi Report founder Michael Nadeau shared that the supply shock of ETH is unfolding in real-time. So far in the third quarter, ETH on CEX has decreased by 6.7%. It has now dropped to its lowest level since July 2016.
As ETH treasury companies begin to implement on-chain strategies to enhance yield and the amount of ETH held per share, this figure is expected to continue to decline.
More capital inflow on-chain may trigger a stronger 'reflexivity' effect, meaning that market activity and fundamentals will further improve with the enhancement of price trends.
