Crypto awakening: Researcher explains ETH exodus from exchanges

Crypto awakening: Researcher explains ETH exodus from exchanges


Blockchain analytics carried out by a Nansen researcher has highlighted outflows of Ether (ETH) and stablecoins from centralized exchanges in the wake of FTX’s collapse.

Nansen research analyst Sandra Leow posted a thread on Twitter unpacking the current state of Decentralized Finance (DeFi), with a specific focus on the movement of ETH and stablecoins from exchanges.

As it stands, the Ethereum 2.0 deposit contract contains over 15 million ETH while some 4 million Wrapped ETH are held in the WETH deposit contract. Web3 infrastructure development and investment firm Jump Trading holds over 2 million ETH tokens and is the third largest holder of ETH in the ecosystem.

The current state of DeFi in @nansen_ai charts

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— sandra lmeow (@sandraaleow) November 22, 2022

Binance, Kraken, Bitfinex and Gemini wallets feature

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