22.8% Of Ethereum’s Circulating Supply is Deposited in Smart Contracts

[Cz Rock]

Ethereum deposited in smart contracts has reached 22.8% of its circulating supply
Ethereum on crypto exchanges has dropped to 12% of the circulating supply
2021 has seen 10 events where over 200k ETH is withdrawn from exchanges in a day
Ethereum has set a new all-time high of $3,605 – Binance rate
The trend of Ethereum investors moving their ETH out of exchanges and into DeFi is at its peak. According to data from the team at Glassnode, the amount of Ethereum deposited in smart contracts has reached 22.8% of its circulating supply. At the same time, the amount of Ethereum left on exchanges has hit a new low of 12% of ETH’s circulating supply.

The chart below, courtesy of Glassnode, provides a visual cue of the flow of Ethereum out of exchanges and into smart contracts that are at the core of DeFi.

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