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Ethereum Adoption by the Numbers: Flipside Crypto - CoinMarketCap Blog

Average of the past 21 days.

1. 30.5K New Contracts Are Created Daily 

Any developer can deploy a new smart contract on Ethereum, which is the basis for creating new decentralized applications (DApps). DApps have the same general properties as a traditional app, except that their data is recorded on the blockchain through the use of one or more smart contracts. As such, a decentralized application is often described as trustless or peer-to-peer because no single server or entity is controlling it.

2. Over 1M ETH Is Sent Daily to DEXes vs 200K to CEXes

Deposits made on decentralized exchanges surpassed the amounts made on centralized exchanges for good on June 8th of this year. The launch of Sushi attracted over $1B in 4 days, followed by the launch of $UNI, which also attracted millions of dollars. 

It’s clear that at this time, users prefer decentralized platforms that require no KYC, as opposed to centralized platforms. The current trend suggests that DeFi will one day take over CEXs, in large part because DEX products are easier to use in the sense that they require less bureaucracy. 

In March, both centralized and decentralized exchanges saw an uptick in volume deposited. This suggests that the hype around new DeFi products was the catalyst for new fiat to enter crypto (deposits on CEXes) and resulted in an increase in DEX volume. 

There is also an interesting correlation between newly created contracts in the previous graph, and DEX deposits just above. In March, the uptick of the two is nearly identical. The fact that there is nearly no lag between the two suggests that users are very up to date with the latest DeFi protocols and are quick to start using them. 

It could also point to Bitcoin whales (i.e. users who own over 1,000 BTC) jumping on the latest projects to soak up as much APY before they dump and move on. The whales are big players who have an incentive to stay up to date with the latest trends.<...

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