The Glassnode analytics company has shared some fresh data saying that users have been actively withdrawing their ETH from crypto exchanges – the data was collected over the past twenty-four hours.
Meanwhile, Chris Burniske tweeted that in the near future, Ethereum will be able to perform a full package of financial services thanks to DeFi.
ETH exchange outflow prints new high
According to Glassnode, over the past twenty-four hours, the amount of ETH withdrawn from exchanges by users has skyrocketed over 68 percent and now amounts to $2,525,860.
As if illustrating the aforementioned data, Whale Alert has reported that a while ago, a crypto whale transferred a gargantuan sum of cash in ETH to an anonymous wallet - 97,500 ETH ($22,151,203).
As for the number of ETH transfers, over the past twenty-four hours, it also surged by 15.7 percent. The reading of this index at the moment is equal to 14,965.292.
‘DeFi likely to have bigger impact on ETH than ICOs did’
A co-founder of Placeholder Ventures and vocal ETH bull Chris Burniske has shared his take on Ethereum fundamentals regarding the impact that DeFi is likely to have on the second biggest blockchain and its cryptocurrency ETH.
Mr. Burniske refers back to the ICO era which ended in 2018, saying that coin offerings turned Ethereum into a giant of early-stage capital formation.
However, he reckons that now that DeFi has emerged and has been growing quite fast, it will have an even bigger impact on Ethereum and will enable it to perform a full package of financial services, not only raise funds from retail (and institutional) investors.
Godfrey Benjamin
Tomiwabold Olajide
