On-Chain data company Glassnode shared a very important chart about Ethereum supply.
It’s revealed where Ethereum is going!
In-blockchain data analysis company Glassnode reveals that the amount of ETH available on crypto exchanges is even less than half that locked in DeFi.
The amount of ETH locked in DeFi protocols is 75% since the beginning of 2020 While the total of Ether held on centralized exchanges fell by 30% during the same period.
Ether is having a very productive year in locking in decentralized finance contracts.
Glassnode is on Ethereum-based smart contracts on May 7. He shared a chart comparing the number of Ether stored with the number of ETH held on centralized exchanges over the past 17 months.
In the same period, the supply of ETH locked in smart contracts has increased from 13% to 22.8%. This is also important because DeFi shows that centralized exchanges are reducing their ETH trading profits.
Figures from crypto data aggregator DeFi Llama show that ETH, equivalent to about 9% of the supply, is outside the Ethereum mainnet.
DeFi Llama says 8.3 million coins, or 7% of circulating Ether, is locked in Binance Smart Chain protocols, 286,153 Ether, or 0.25% of supply, is in Solana and estimates 0.09% of 103,902% ETH is in Avalanche. Roughly 1.6%, or 2.8 million Ether, locked in “other” networks.. Ether futures volumes briefly outpaced the BTC markets this week.
ETH live price: $ 1,114.84
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