Ethereum Migration from CeFi to DeFi Accelerates

Ethereum Migration from CeFi to DeFi Accelerates
фото показано с : beincrypto.com

2021-5-11 09:39

More Ethereum is leaving centralized finance (CeFi) and exchanges and entering decentralized finance (DeFi) than ever before, which could be keeping prices and demand for the asset elevated.

On-chain analytics from various providers has revealed that there has been somewhat of an exodus of Ethereum from centralized exchanges over the past month.

A recent chart from Glassnode shows how clearly evident this has been. Following a period when both were relatively even, the divergence accelerated in January and there is now around double the amount of ETH locked into smart contacts than there is on centralized exchanges.

Ethereum Supply Smart Contract vs. Exchange Balance | Glassnode The Ethereum exodus

It’s worth noting that the amount of ETH in smart contracts is not necessarily locked or unavailable for resale. Though that does apply to the Beacon Chain deposit contract. It currently holds 4.4 million ETH, or 3.8% of the total supply, locked away until Phase 1.5 merges the two Ethereum chains together sometime next year.

There are platforms now such as Lido that offer staking services without having to lock up the principal. However, the majority of ether on ETH 2.0 is likely to be immobile for the time being.

Glassnode reported that the amount of ETH on exchanges has declined by 30% over the past nine months, falling from 19 million to around 13 million, or 12% of the supply today. It’s the lowest balance on centralized exchanges in almost two years.

Conversely almost 23% of the supply, or 26 million ETH, is now held in DeFi and various other smart contracts.

DeFi and cold storage

EthHub co-founder Anthony Sassano stated that of the 10 million or so ETH that are locked in DeFi, around 6.6 million is currently in money market protocols such as Maker, Aave, and Compound. This means that these funds are being used as collateral and not actively traded.

A further 2.4 million ETH or so is being used in automated market makers as a pairing asset. The rest of the ETH is being stored in smart contract wallets, or cold storage, of which the most popular is the Gnosis Safe, holding 1.8 million ETH.

Sassano concluded that it’s good to see ETH being utilized. This drives demand and returns ether to the hands of holders rather than centralized exchanges.

“All in all, it’s just good to see ETH being brought “home” into wallets individuals actually control instead of wallets that centralized exchanges control.”

At the time of writing, ETH was cooling from yesterday’s all-time high, trading down 5% on the day at $3,920 according to CoinGecko.

The post Ethereum Migration from CeFi to DeFi Accelerates appeared first on BeInCrypto.

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Ethereum (ETH) на Currencies.ru

$ 1762.61 (+0.56%)
Объем 24H $10.052b
Изменеия 24h: 3.56 %, 7d: 12.16 %
Cегодня L: $1762.17 - H: $1764.48
Капитализация $212.718b Rank 2
Цена в час новости $ 3939.05 (-55.25%)

ethereum defi migration accelerates cefi asset elevated

Источник: beincrypto.com

ethereum defi → Результатов: 126


Будущее DeFi не блокчейн Ethereum, а его конкуренты

Несмотря на популярность Ethereum в качестве платформы для приложений децентрализованных финансов (DeFi), безудержный рост как количества самих приложений, так и числа пользователей создал нагрузку на инфраструктуру сети, что привело к ряду проблем, с которыми многие пользователи Ethereum DeFi сталкиваются на регулярной основе.

2021-2-4 11:01


Фото:

Капитализация DeFi на Ethereum вернулась к $1 млрд.

Во мартовского краха крипторынка также сильно пострадала растущая экосистема децентрализованных финансов (DeFi) на Ethereum, но теперь ситуация нормализовалась и это может сказаться на цене ETH.

2020-6-1 12:42


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Ethereum Bull Shot Down Over Dubious DeFi/COVID-19 Spin

The cryptocurrency community isn’t buying a theory suggesting that a coronavirus-prompted recession will make Ethereum decentralized financial (DeFi) applications more popular. Investor Ryan Sean Adams made the case that efforts to mitigate the impact of an increasingly likely recession would create further confidence in Ethereum, driving DAI rates up and attracting “millions” of users.

2020-3-12 18:33


Why Ethereum Doesn’t Have the Monopoly on Leading #DeFi Projects

2019 is the year of decentralized finance. The #DeFi movement was still in its fledgling stage at the end of 2018, but in the wake of the recent resurgence in the crypto markets, it’s taken off. In March, ConsenSys published a blog post listing – believe it or not – over a hundred DeFi projects, […] The post Why Ethereum Doesn’t Have the Monopoly on Leading #DeFi Projects appeared first on ZyCrypto.

2019-7-5 16:17


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