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Tuesday

22 September 2020

Over 15% of ETH Supply Locked in Smart Contracts, BTC Dominance Declining | Markets and Prices Bitcoin News

Over 15% of ETH Supply Locked in Smart Contracts, BTC Dominance Declining | Markets and Prices Bitcoin News


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Over 15% of ETH Supply Locked in Smart Contracts, BTC Dominance Declining.

The rapid growth of decentralized finance (defi) protocols is contributing to the increasing proportion of ETH supply that is now locked in smart contracts.

According to a report, over 5% of ETH is locked up in the WETH (wrapped ether) smart contracts, enabling it to interact with other tokens more easily.

Most of this WETH has then been locked up in defi contracts, including Maker, Uniswap, and Balancer.

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