{"id":221417,"date":"2022-02-25T01:00:32","date_gmt":"2022-02-25T01:00:32","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=221417"},"modified":"2022-02-25T01:20:56","modified_gmt":"2022-02-25T01:20:56","slug":"nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/","title":{"rendered":"NFT activities increase on Ethereum as Bitcoin demands diminish on DeFi"},"content":{"rendered":"<p>NFT remains the dominant sector on <a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum<\/a> and is responsible for most of the transfers on the network. This is according to the newly released <a href=\"https:\/\/coinmetrics.substack.com\/p\/state-of-the-network-issue-143?utm_source=url\">Coin Metrics State of Network report.<\/a><\/p>\n<h2>NFT token transfers beat that of other spaces<\/h2>\n<p>Non-fungible tokens have been trading at all-time highs for the past few months despite the general downtrend in the crypto market. In addition, since July 2021, NFT transfers on the network have surpassed Stablecoins and all ERC-20 tokens.<\/p>\n<p>The adoption of NFTs started to skyrocket towards the end of last year, with platforms such as OpenSea, the number one NFT marketplace, seeing <a href=\"https:\/\/cryptoslate.com\/opensea-transaction-volume-spikes-to-new-ath\/\">record trading volumes<\/a>.<\/p>\n<figure id=\"attachment_221420\" aria-describedby=\"caption-attachment-221420\" style=\"width: 635px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-221420 \" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/C52C1916-BF5A-432A-BFE0-1587F7A5B55A.png\" alt=\"\" width=\"635\" height=\"374\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/C52C1916-BF5A-432A-BFE0-1587F7A5B55A.png 1200w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/C52C1916-BF5A-432A-BFE0-1587F7A5B55A-300x177.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/C52C1916-BF5A-432A-BFE0-1587F7A5B55A-1024x602.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/C52C1916-BF5A-432A-BFE0-1587F7A5B55A-768x452.png 768w\" sizes=\"(max-width: 635px) 100vw, 635px\" \/><figcaption id=\"caption-attachment-221420\" class=\"wp-caption-text\">Source: CoinMetrics<\/figcaption><\/figure>\n<p>LooksRare, which launched on Ethereum in early January, posted over $2 billion in trading volume within the first<a href=\"https:\/\/cryptoslate.com\/nft-trades-on-looksrare-are-mostly-wash-trading-accounts-for-over-8-billion\/\"> 30 days<\/a>. Even the Coinbase NFT platform, which is yet to launch, already has more than 2.4 million people on the waitlist.<\/p>\n<p>The interest in NFT isn\u2019t limited to retail investors. Several institutions like Adidas, Nike, Mercedes, and others have released limited NFT collections as they seek to make their mark on the metaverse.<\/p>\n<h2>Demand for Bitcoin on Ethereum blockchain wanes<\/h2>\n<p>However, the current market pullback has affected other sectors significantly. One of the affected is the DeFi space, where the total value locked had <a href=\"https:\/\/defillama.com\/\">dropped<\/a> below $200 billion this year.<\/p>\n<p>The evidence of this reflects on the inflow of Wrapped <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">BTC<\/a> to Ethereum network which has dipped since the year began.<\/p>\n<p>Wrapped BTC makes it possible for Bitcoin holders to participate on the Ethereum network and within the DeFi space without losing their assets. The Ethereum compatible wBTC can be redeemed for Bitcoin at any time.<\/p>\n<figure id=\"attachment_221418\" aria-describedby=\"caption-attachment-221418\" style=\"width: 653px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-221418 \" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/C6AA0648-D73E-4FD6-BCB9-E737E49CBA29.png\" alt=\"\" width=\"653\" height=\"387\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/C6AA0648-D73E-4FD6-BCB9-E737E49CBA29.png 1200w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/C6AA0648-D73E-4FD6-BCB9-E737E49CBA29-300x178.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/C6AA0648-D73E-4FD6-BCB9-E737E49CBA29-1024x607.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/C6AA0648-D73E-4FD6-BCB9-E737E49CBA29-768x455.png 768w\" sizes=\"(max-width: 653px) 100vw, 653px\" \/><figcaption id=\"caption-attachment-221418\" class=\"wp-caption-text\">Source: CoinMetrics<\/figcaption><\/figure>\n<p>With about 263,000 wBTC currently on Ethereum which is roughly 1.4% of the total Bitcoin supply, most are locked in smart contracts on DeFi platforms like <a href=\"https:\/\/cryptoslate.com\/coins\/maker\/\">Maker<\/a> and <a href=\"https:\/\/cryptoslate.com\/coins\/uniswap\/\">Uniswap<\/a> while other smart contract-enabled platforms like <a href=\"https:\/\/cryptoslate.com\/coins\/avalanche\/\">Avalanche<\/a> also have a substantial amount of wBTC in their bridges. BTC and ETH active addresses both dropped about 8% week-over-week.<\/p>\n<p>However, since the start of this year, the inflow of wBTC on DeFi has mirrored the decline of the wider crypto market. While the inflow more than doubled last year, we are yet to witness a level of sustained inflow in 2022.<\/p>\n<p>With <a href=\"https:\/\/cryptoslate.com\/crypto-markets-sink-as-russia-declares-war-on-ukraine-what-happens-now\/\">conflicts<\/a> in Eastern Europe and fears of a global crisis, the performance is unlikely to improve soon. In the past 24 hours, the crypto market cap has fallen by almost 10%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NFT remains the dominant sector on Ethereum and is responsible for most of the transfers on the network. This is according to the newly released Coin Metrics State of Network report. NFT token transfers beat that of other spaces Non-fungible tokens have been trading at all-time highs for the past few months despite the general [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":221461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NFT activities increase on Ethereum as Bitcoin demands diminish on DeFi<\/title>\n<meta name=\"description\" content=\"NFT transfers have dominated the Ethereum ecosystem since July, 2021 beating competitions from stablecoins and ERC-20 tokens.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NFT activities increase on Ethereum as Bitcoin demands diminish on DeFi\" \/>\n<meta property=\"og:description\" content=\"NFT transfers have dominated the Ethereum ecosystem since July, 2021 beating competitions from stablecoins and ERC-20 tokens.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-25T01:00:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-25T01:20:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/ethereum-nft.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.\",\"worksFor\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"sameAs\":[\"https:\/\/x.com\/hardeyjumoh\",\"https:\/\/www.linkedin.com\/in\/oluwapelumi-adejumo\",\"https:\/\/muckrack.com\/oluwapelumi-adejumo\"]},\"headline\":\"NFT activities increase on Ethereum as Bitcoin demands diminish on DeFi\",\"datePublished\":\"2022-02-25T01:00:32+00:00\",\"dateModified\":\"2022-02-25T01:20:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/\"},\"wordCount\":418,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"articleSection\":[\"Analysis\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/#respond\"]}],\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/\",\"url\":\"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/\",\"name\":\"NFT activities increase on Ethereum as Bitcoin demands diminish on DeFi\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/#website\"},\"datePublished\":\"2022-02-25T01:00:32+00:00\",\"dateModified\":\"2022-02-25T01:20:56+00:00\",\"description\":\"NFT transfers have dominated the Ethereum ecosystem since July, 2021 beating competitions from stablecoins and ERC-20 tokens.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptoslate.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NFT activities increase on Ethereum as Bitcoin demands diminish on DeFi\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptoslate.com\/#website\",\"url\":\"https:\/\/cryptoslate.com\/\",\"name\":\"CryptoSlate\",\"description\":\"Cryptocurrency News and Real-time Coin Data\",\"publisher\":{\"@id\":\"https:\/\/cryptoslate.com\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"NewsMediaOrganization\",\"@id\":\"https:\/\/cryptoslate.com\/#organization\",\"name\":\"CryptoSlate\",\"url\":\"https:\/\/cryptoslate.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg\",\"width\":1000,\"height\":1000,\"caption\":\"CryptoSlate\"},\"image\":{\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/twitter.com\/cryptoslate\",\"https:\/\/www.instagram.com\/cryptoslate\",\"https:\/\/www.linkedin.com\/company\/cryptoslate\",\"https:\/\/www.youtube.com\/c\/cryptoslate\",\"https:\/\/cryptoslate.substack.com\",\"https:\/\/t.me\/cryptoslatenews\",\"https:\/\/www.crunchbase.com\/organization\/cryptoslate\",\"https:\/\/iq.wiki\/wiki\/cryptoslate\",\"https:\/\/news.google.com\/publications\/CAAqKggKIiRDQklTRlFnTWFoRUtEMk55ZVhCMGIzTnNZWFJsTG1OdmJTZ0FQAQ\",\"https:\/\/muckrack.com\/media-outlet\/cryptoslate\",\"https:\/\/www.tiktok.com\/@cryptoslatenews\"],\"publishingPrinciples\":\"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#editorial-principles\",\"ownershipFundingInfo\":\"https:\/\/cryptoslate.com\/disclaimers\/how-cryptoslate-makes-and-spends-money\/\",\"correctionsPolicy\":\"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#corrections-feedback\",\"ethicsPolicy\":\"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#editorial-principles\",\"foundingDate\":\"2017-08-04\",\"founder\":[{\"@type\":\"Person\",\"name\":\"Nate Whitehill\"},{\"@type\":\"Person\",\"name\":\"Matthew Blancarte\"}],\"contactPoint\":[{\"@type\":\"ContactPoint\",\"contactType\":\"customer support\",\"url\":\"https:\/\/cryptoslate.com\/contact\/\",\"availableLanguage\":\"en-US\"},{\"@type\":\"ContactPoint\",\"contactType\":\"sales\",\"url\":\"https:\/\/cryptoslate.com\/advertising\/\",\"availableLanguage\":\"en-US\"},{\"@type\":\"ContactPoint\",\"contactType\":\"newsroom\",\"url\":\"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#corrections-feedback\",\"email\":\"tips@cryptoslate.com\",\"availableLanguage\":\"en-US\"}],\"masthead\":\"https:\/\/cryptoslate.com\/about\/#masthead\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/b333928a322ba4c082e8bb2ad0f14eb6\",\"name\":\"Oluwapelumi Adejumo\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-150x150.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-150x150.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"description\":\"Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.\",\"jobTitle\":\"Reporter\",\"worksFor\":\"CryptoSlate\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NFT activities increase on Ethereum as Bitcoin demands diminish on DeFi","description":"NFT transfers have dominated the Ethereum ecosystem since July, 2021 beating competitions from stablecoins and ERC-20 tokens.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/","og_locale":"en_US","og_type":"article","og_title":"NFT activities increase on Ethereum as Bitcoin demands diminish on DeFi","og_description":"NFT transfers have dominated the Ethereum ecosystem since July, 2021 beating competitions from stablecoins and ERC-20 tokens.","og_url":"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/","og_site_name":"CryptoSlate","article_published_time":"2022-02-25T01:00:32+00:00","article_modified_time":"2022-02-25T01:20:56+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/02\/ethereum-nft.jpg","type":"image\/jpeg"}],"author":"Oluwapelumi Adejumo","twitter_card":"summary_large_image","twitter_creator":"@cryptoslate","twitter_site":"@cryptoslate","twitter_misc":{"Written by":"Oluwapelumi Adejumo","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/#article","isPartOf":{"@id":"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/"},"author":{"@type":"Person","@id":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person","name":"Oluwapelumi Adejumo","url":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/","mainEntityOfPage":{"@id":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/"},"image":{"@type":"ImageObject","@id":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg","caption":"Oluwapelumi Adejumo"},"jobTitle":"Senior Reporter","description":"Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.","worksFor":{"@id":"https:\/\/cryptoslate.com\/#organization"},"sameAs":["https:\/\/x.com\/hardeyjumoh","https:\/\/www.linkedin.com\/in\/oluwapelumi-adejumo","https:\/\/muckrack.com\/oluwapelumi-adejumo"]},"headline":"NFT activities increase on Ethereum as Bitcoin demands diminish on DeFi","datePublished":"2022-02-25T01:00:32+00:00","dateModified":"2022-02-25T01:20:56+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/"},"wordCount":418,"commentCount":0,"publisher":{"@id":"https:\/\/cryptoslate.com\/#organization"},"articleSection":["Analysis"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/#respond"]}],"copyrightYear":"2022","copyrightHolder":{"@id":"https:\/\/cryptoslate.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/","url":"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/","name":"NFT activities increase on Ethereum as Bitcoin demands diminish on DeFi","isPartOf":{"@id":"https:\/\/cryptoslate.com\/#website"},"datePublished":"2022-02-25T01:00:32+00:00","dateModified":"2022-02-25T01:20:56+00:00","description":"NFT transfers have dominated the Ethereum ecosystem since July, 2021 beating competitions from stablecoins and ERC-20 tokens.","breadcrumb":{"@id":"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/cryptoslate.com\/nft-activities-increase-on-ethereum-as-bitcoin-demands-diminishes-on-defi\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptoslate.com\/"},{"@type":"ListItem","position":2,"name":"NFT activities increase on Ethereum as Bitcoin demands diminish on DeFi"}]},{"@type":"WebSite","@id":"https:\/\/cryptoslate.com\/#website","url":"https:\/\/cryptoslate.com\/","name":"CryptoSlate","description":"Cryptocurrency News and Real-time Coin Data","publisher":{"@id":"https:\/\/cryptoslate.com\/#organization"},"inLanguage":"en-US"},{"@type":"NewsMediaOrganization","@id":"https:\/\/cryptoslate.com\/#organization","name":"CryptoSlate","url":"https:\/\/cryptoslate.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/05\/c-logo.jpg","width":1000,"height":1000,"caption":"CryptoSlate"},"image":{"@id":"https:\/\/cryptoslate.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/twitter.com\/cryptoslate","https:\/\/www.instagram.com\/cryptoslate","https:\/\/www.linkedin.com\/company\/cryptoslate","https:\/\/www.youtube.com\/c\/cryptoslate","https:\/\/cryptoslate.substack.com","https:\/\/t.me\/cryptoslatenews","https:\/\/www.crunchbase.com\/organization\/cryptoslate","https:\/\/iq.wiki\/wiki\/cryptoslate","https:\/\/news.google.com\/publications\/CAAqKggKIiRDQklTRlFnTWFoRUtEMk55ZVhCMGIzTnNZWFJsTG1OdmJTZ0FQAQ","https:\/\/muckrack.com\/media-outlet\/cryptoslate","https:\/\/www.tiktok.com\/@cryptoslatenews"],"publishingPrinciples":"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#editorial-principles","ownershipFundingInfo":"https:\/\/cryptoslate.com\/disclaimers\/how-cryptoslate-makes-and-spends-money\/","correctionsPolicy":"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#corrections-feedback","ethicsPolicy":"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#editorial-principles","foundingDate":"2017-08-04","founder":[{"@type":"Person","name":"Nate Whitehill"},{"@type":"Person","name":"Matthew Blancarte"}],"contactPoint":[{"@type":"ContactPoint","contactType":"customer support","url":"https:\/\/cryptoslate.com\/contact\/","availableLanguage":"en-US"},{"@type":"ContactPoint","contactType":"sales","url":"https:\/\/cryptoslate.com\/advertising\/","availableLanguage":"en-US"},{"@type":"ContactPoint","contactType":"newsroom","url":"https:\/\/cryptoslate.com\/disclaimers\/editorial-policy\/#corrections-feedback","email":"tips@cryptoslate.com","availableLanguage":"en-US"}],"masthead":"https:\/\/cryptoslate.com\/about\/#masthead"},{"@type":"Person","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/b333928a322ba4c082e8bb2ad0f14eb6","name":"Oluwapelumi Adejumo","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptoslate.com\/#\/schema\/person\/image\/","url":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-150x150.jpg","contentUrl":"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-150x150.jpg","caption":"Oluwapelumi Adejumo"},"description":"Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.","jobTitle":"Reporter","worksFor":"CryptoSlate","url":"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/221417"}],"collection":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/users\/720"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/comments?post=221417"}],"version-history":[{"count":7,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/221417\/revisions"}],"predecessor-version":[{"id":221508,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/posts\/221417\/revisions\/221508"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media\/221461"}],"wp:attachment":[{"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/media?parent=221417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/categories?post=221417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/tags?post=221417"},{"taxonomy":"prediction_market_topic","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/prediction_market_topic?post=221417"},{"taxonomy":"post_folder","embeddable":true,"href":"https:\/\/cryptoslate.com\/wp-json\/wp\/v2\/post_folder?post=221417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}