As the amount of Ether (ETH) locked on decentralized finance (DeFi) contracts increases, ETH on central exchanges is getting less and less.
On-chain data source Glassnode A chart on May 7 comparing the number of Ether stored in Ethereum-based smart contracts with the number of ETH held in central exchanges over the past 17 months. shared.
Since the beginning of 2020, Ether’s supply on central exchanges has fallen from 17 percent to 12 percent, or nearly a quarter.
In the same period, the percentage of ETH locked in smart contracts increased from 13 percent to 22.8 percent. As transactions in the DeFi area increase, the profits of central exchanges are constantly decreasing.
Crypto data collector DeFi Llama says that close to 9 percent of the supply is locked in smart contracts hosted by networks other than the Ethereum mainnet.
DeFi Llama states that 8.3 million coins, or in other words, 7 percent of the circulating Ether is locked in Binance Smart Chain protocols, 286.153 Ether corresponding to 0.25 percent of the supply is in Solana and 0.09 percent ‘ It is estimated that 103,902 ETH, which corresponds to, is also on Avalanche. 2.8 million Ether, roughly 1.6 percent, are locked in “different” networks.
The Ethereum price reaching an all-time high of over $ 3,500 has caused a shift in roles with Bitcoin. Ether futures volume surpassed the BTC market this week.