The path from #CeFi to #DeFi in one chart.

The volume of funds spent on transactions in the #Ethereum network on #eth deposits of centralized exchanges fell from ~ 25% in 2017 to 1% today.

Almost all the commissions that were paid for transactions in the past months went to pay for the withdrawal of #eth from exchanges.

Kaiko: #BTC and #ETH spot trading volumes on centralized exchanges have fallen to their lowest level since summer 2021.