Friday, September 17, 2021
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Ethereum and Bitcoin Locked in DeFi Plunge

As both BTC and ETH have been rallying, this exodus has been compensated. The two biggest cryptoassets now share 44% of the overall valuation locked in DeFi in USD. It continues its climb, breaking one milestone after another, standing at USD 20.1 billion at present. It has increased by 36 percent since the first day of this year.

As all cryptoassets have been rallying, Ethereum locked in DeFi has seen a dramatic decrease of 30 percent, whereas more than 50 percent of bitcoin left DeFi over the past few months. Around the same time, the amount of coins invested in the deposit contract in Ethereum 2.0 is rising.

On September 17, 2020, according to DeFi Pulse info, the volume of ETH locked into DeFi had reached its peak, recording an all-time high of 9,771 m ETH. It’s ETH 6.845m at the time of publication, or 30 percent less.

In addition, over the past two months or so, a large number of BTC have left DeFi as well. We see the amount of BTC locked at DeFi peaking at 64,993 on October 22, 2020, looking at the DeFi Pulse chart. It then started a gradual downward path, hitting BTC 30,918 on January 6, with a few small spikes along the way. This suggests that it has fallen by a total of 52 percent from its all-time peak less than three months ago.

Meanwhile, according to the data provided by the on-chain analytics site Dune Analytics, the Ethereum 2.0 deposit contract currently contains more than ETH 2.24 million, which is more than USD 2.5 billion at the current price of USD 1,120 per ETH. As cryptonews reported, this may seem like a surprising number considering that the contract was released in November with a very late start, and that it was unclear until the very last day whether the initial deadline for the launch of ETH 2.0 Phase 0 would be appropriate for ETH. ETH 524,288 was the threshold, meaning that the contract now has about 4.5 times that amount.

The deposited amount is even higher when we look into the data provided by ETH 2.0 Launchpad, which gives the number of nearly ETH 2.28m. Per Dune Analytics, however, the amount was deposited by 4,502 unique depositors.

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