{"id":244236,"date":"2021-05-07T08:24:11","date_gmt":"2021-05-07T05:24:11","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/almost-twice-as-much-eth-locked-in-defi-as-on-exchanges-glassnode\/"},"modified":"2021-05-07T08:24:11","modified_gmt":"2021-05-07T05:24:11","slug":"almost-twice-as-much-eth-locked-in-defi-as-on-exchanges-glassnode","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/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>&#8220;<strong># Almost twice as much ETH locked in DeFi as on exchanges: Glassnode  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>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, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnode\/status\/1390335553447419907\/photo\/1\">shared<\/a> 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<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/8a85709a-94c3-4a11-8099-e57e1af3f1df.png\"><figcaption style=\"text-align: center;\">Ether supply in smart contracts vs Ether on centralized exchanges: Glassnode<\/figcaption><\/figure>\n<p>Figures from crypto data aggregator <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/defillama.com\/home\">DeFi Llama<\/a> 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><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/almost-twice-as-much-eth-locked-in-defi-as-on-exchanges-glassnode\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Almost twice as much ETH locked in DeFi as on exchanges: Glassnode &#8221; 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. On May 7, on-chain analytics provider, Glassnode, shared a chart comparing the number of Ether deposited&#8230;<\/p>\n","protected":false},"author":1,"featured_media":244237,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvZWVmNjM5YTgtNGMyNy00ODVmLTk0NjQtMjEyMTgxOWZhOGIzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,74891],"class_list":["post-244236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-ethereum"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/244236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=244236"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/244236\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/244237"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=244236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=244236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=244236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}