HomeNewsETH locked in DeFi up by 75%, continues to fall on exchanges

ETH locked in DeFi up by 75%, continues to fall on exchanges

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.

ETH supply in smart contracts vs ETH on centralized exchanges: Glassnode

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.

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