Ether’s share in DeFi contracts is growing at an accelerating rate this year. On the other hand, share on centralized exchanges continues to fall.
Glassnode, an on-chain analytics provider, shared a chart comparing the number of Ether deposited in Ethereum-based smart contracts compared to the number of ETH held on centralized exchanges in past 17 months.
Figures from crypto data aggregator DeFi Llama show that Ether equivalent of roughly 9% of the supply is locked in smart contracts. These smart contacts were hosted by networks other than the Ethereum mainnet.
The crypto data aggregator also estimates that 8.3 million coins of 7% Ether in circulation are locked in Binance smart chain protocols. Also, 0.25%(286,153) supply of Ether is locked on Solana and 0.09%(103,902) on Avalanche.