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The current state of DeFi was examined in Twitter thread by Nansen research analyst – Forbes India

Shashank is founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist.
The current state of DeFi was examined in Twitter thread by Nansen research analystImage: Shutterstock

The current state of decentralised finance (DeFi) was examined in a thread on Twitter by Nansen research analyst Sandra Leow, focusing on the movement of ETH and stablecoins away from crypto exchanges. Currently, more than 15 million ETH are held in the Ethereum 2.0 deposit contract, while 4 million Wrapped Ether (wETH) are kept in the wETH deposit contract. With more than 2 million tokens, Jump Trading is the ecosystem’s third-largest ETH holder. It creates and funds the infrastructure for Web3.

It is important to note that Binance, Kraken, Bitfinex, and Gemini have the largest ETH balances among wallets. In addition, there is a sizable holding of ETH on the Arbitrum layer 2 roll-up bridge.

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