{"id":124111,"date":"2021-05-07T06:19:26","date_gmt":"2021-05-07T06:19:26","guid":{"rendered":"https:\/\/precoinnews.com\/?p=124111"},"modified":"2021-05-07T06:19:26","modified_gmt":"2021-05-07T06:19:26","slug":"almost-twice-as-much-eth-locked-in-defi-as-on-exchanges-glassnode","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/almost-twice-as-much-eth-locked-in-defi-as-on-exchanges-glassnode\/","title":{"rendered":"Almost twice as much ETH locked in DeFi as on exchanges: Glassnode"},"content":{"rendered":"<p>Ether is being locked up in decentralized finance contracts at an accelerating rate this year, while the amount held on centralized exchanges continues to fall.<\/p>\n<p>On May 7, on-chain analytics provider, Glassnode, shared a chart comparing the number of Ether deposited in Ethereum-based smart contracts to the number of ETH held on centralized exchanges over the past 17 months.<\/p>\n<p>Since the start of 2020, the share of supply represented by Ether on centralized exchanges has dropped more than a quarter, from roughly 17% to 12%.<\/p>\n<p>Over the same period the percentage of ETH locked in smart contracts has increased by three quarters, from 13% to 22.8%, showing that DeFi is steadily eating into centralized exchanges\u2019 profits from Ethereum trading fees.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/8a85709a-94c3-4a11-8099-e57e1af3f1df.png\"><\/p>\n<p>Figures from crypto data aggregator DeFi Llama suggest that ETH equivalent to roughly 9% of the supply is locked in smart contracts hosted by networks other than the Ethereum mainnet.<\/p>\n<p>DeFi Llama estimates that 8.3 million coins or 7% of circulating Ether is locked in Binance Smart Chain protocols, while 286,153 Ether or 0.25% of supply is on Solana, and 103,902 ETH 0.09% is on Avalanche. Roughly 1.6% or 2.8 million Ether is locked in \u201cother\u201d networks.<\/p>\n<p>Ether\u2019s dramatic rally into new all-time highs above $3,500 has renewed discussions of a \u2018flippening\u2019 over Bitcoin, with Ether futures volumes briefly outpacing the BTC markets this week.<\/p>\n<p>Source: <a href=\"https:\/\/cointelegraph.com\/news\/almost-twice-as-much-eth-locked-in-defi-as-on-exchanges-glassnode\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ether is being locked up in decentralized<\/p>\n","protected":false},"author":3,"featured_media":124110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Almost twice as much ETH locked in DeFi as on exchanges: Glassnode - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/almost-twice-as-much-eth-locked-in-defi-as-on-exchanges-glassnode\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Almost twice as much ETH locked in DeFi as on exchanges: Glassnode - 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