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The stock of Ethereum within the CEX has fallen to its lowest level since July 2016

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2025-08-12 02:07:18
On August 12th, Michael Nadeau, founder of The DeFi Report, shared in a post that the supply shock of ETH is playing out in real time. ETH on CEX has declined by 6.7% so far in the third quarter. It has now fallen to its lowest level since July 2016. This number is expected to continue to decline as ETH treasury companies start implementing on-chain strategies to boost yields and ETH holdings per share. More capital flowing into the chain may trigger a stronger "reflexivity" effect, that is, market activity and fundamentals will further increase as price movements improve.
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