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Blockchain analytics carried out by a Nansen researcher has highlighted outflows of Ether (ETH) and stablecoins from centralized exchanges in the wake of FTX’s collapse.

Nansen research analyst Sandra Leow posted a thread on Twitter unpacking the current state of decentralized finance (DeFi), with a specific focus on the movement of ETH and stablecoins from exchanges.

As it stands, the Ethereum 2.0 deposit contract contains over 15 million ETH, while some 4 million Wrapped Ether (wETH) is held in the wETH deposit contract. Web3 infrastructure development and investment firm Jump Trading holds over 2 million ETH tokens and is the third largest holder of ETH in the ecosystem.

The current state of DeFi in @nansen_ai charts

— sandra lmeow (@sandraaleow) November 22, 2022

Binance, Kraken, Bitfinex and Gemini wallets feature in the largest ETH balances list, while the Arbitrum layer-2 roll-up bridge also holds a significant amount of Ether.

As Leow explained in correspondence with

Keep reading this article on Cointelegraph.com.

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