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Anthony Sassano has revealed via Twitter on June 13, 2021, that about 23 percent of the entire Ether supply is now locked in smart contracts just like in June 2016 when the first Ethereum-based decentralized autonomous organization (DAO) went live. The latest figures are quite indicative of Ethereum\u2019s success as a decentralized finance (DeFi) heavyweight.<\/strong><\/p>\n While the price of ether (ETH) is still down by over 43 percent since hitting an all-time high of $4,372 earlier in May 2021, the future is very bright for the digital currency indeed, if the latest ETH data is anything to go by.<\/span><\/p>\n Per a tweet by EthHub co-founder, Anthony Sassano, the amount of ether (ETH) deposited on smart contracts has hit a level last witnessed in June 2016, when the first decentralized autonomous organization launched on Ethereum.<\/span><\/p>\n \u201cThe amount of ETH in smart contracts is now at a similar level to what it was during the DAO\u00a0 event (around 23 percent of all ETH). In June of 2016, that was approximately $230 million worth of ETH.\u00a0 Today, it’s around $63 billion worth of ETH,\u201d he tweeted.<\/strong><\/p>\n<\/blockquote>\n While bitcoin (BTC) is designed to function as a store of value and payment method, Ehereum\u2019s primary objective is to offer a platform for the decentralized finance economy and the development of decentralized applications (dApps) powered by complex smart contracts. And the Ethereum blockchain is still head and shoulders above its competitors in that regard.<\/span><\/p>\n According to DefiPrime, out of the 236 decentralized finance projects listed on its platform, Ethereum powers a whooping <\/span>218 dApps.<\/span> In the same vein, the <\/span>top three<\/span> decentralized exchanges in the world, in terms of total value locked, are powered by Ethereum.<\/span><\/p>\n Sassano notes that more than 1 million ETH is currently locked in the Binance Smart Chain (BSC) contract, the DeFi hub of the centralized crypto exchange. The Eth2.0 <\/span>beacon chain<\/span> went live earlier in December 2020, marking a significant milestone in the project\u2019s transition to the more energy-efficient proof-of-stake (PoS) consensus.<\/span><\/p>\n<\/span>Ethereum Waxing Ever Stronger\u00a0<\/strong><\/span><\/h2>\n
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<\/span>Ethereum Blazing the Trail<\/strong><\/span><\/h2>\n