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05 December 2020

Ethereum Flowing Out of Exchanges and Into Smart Contracts - Decrypt

Ethereum Flowing Out of Exchanges and Into Smart Contracts - Decrypt


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But now traders have to ask: What to do with all that ETH now that its price is going up and DeFi protocols have come back to life.

Pedro Febrero, the founder of Bityond and researcher at Quantum Economics, toldDecrypt, "What I suspect is happening is the same thing that is going on with Bitcoin: essentially, we're noticing a growing number of coins being taken out of exchanges into private wallets.”.

Of course, traders may just be letting their ETH settle into DeFi smart contract long-term. Regardless, with the price of Ether reaching levels not seen since 2018, holders are fine with taking a break as long as the price keeps rising.

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