Ethereum Investors Continue Moving ETH out of Exchanges and into Defi
In brief: Ethereum balances on exchanges have seen a drastic drop since the popularity of DeFi in August Ethereum investors continue to lock their ETH in smart contracts in DeFi protocols ETH volume on Decentralized exchanges is also growing drastically Ethereum price could once again attempt to revisit $400 In an earlier analysis, it was highlighted that 15% of Ethereum’s supply is locked in smart contracts. Ethereum Moved from Exchanges to DeFi is Continually Growing According to the report, Ethereum investors have been continually withdrawing their ETH from centralized exchanges and into DeFi smart contracts beginning mid-August.
This means that not only is ETH being withdrawn from exchanges and moved into the DeFi ecosystem, but it is also moving from private wallets into smart contracts. The team at Glassnode provided the following chart comparing the Ethereum balances on exchanges over time, with the percent of ETH locked in smart contracts.
ETH |
$ 3034.96
|