Kraken Australia CEO talks the August market report and BTC price slump By Cointelegraph

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Kraken Australia CEO talks the August market report and BTC price slump

Kraken Australia CEO Jonathan Miller described yesterday’s crash as a natural correction after BTC was “dragged up” by the overheated Ether (ETH) and nonfungible token (NFT) markets.

In its August report, Kraken notes that the supply of Ether on centralized exchanges fell to a three-year low of 12.8% at the start of the month, concluding “the likelihood of supply shock capitulating ETH higher is greater.”