BITCOIN locked in DeFi skyrocketed by 30%

BITCOIN locked in DeFi skyrocketed by 30%

By HenryDo | CRYPTO CAPICAL | 12 Sep 2020

DeFi users pumped more than 20,000 Bitcoins into DeFi projects last week, which shows that DeFi's bull run is not over yet.

The amount of BTC locked up in decentralized financial projects (DeFi) has increased by more than 30% in the past week, although the current Bitcoin and Ethereum prices have plummeted compared to August.

The total value of USD locked can fluctuate by market, even if there is no change in the number of locked tokens.


During the previous week, the total value of the locked USD fell from a peak of $ 9.6 billion on September 2 to $ 6.11 billion on September 10, before rising again to 7.82 billion. USD at the present time.

According to data from DeFi DefiPulse, the amount of BTC locked up has increased from 67,038 BTC ($ 694 million) on September 2 to the current all-time high of 87,752 BTC ($ 904 million), which equates to increase in 30 days. , 9%.

More than 50% (51,295 BTC) is locked on Ethereum in WBTC, accounting for 63% of BTC growth since September 2, locking another 13,000 WBTC on the network.

RenVM, which also allows users to (encrypt) their BTC on Ethereum, keeps 17,630 BTC locked, up over 2,500 BTC since the beginning of the month.

In contrast, Bitcoin's Lightning Network accounts for only 1.2% (1,061 BTC) of the total BTC locked up in DeFi. The amount of BTC locked up on the Lightning Network increased by just 4 BTC, or less than 0.02 percent of BTC's total growth so far in September.

198 BTC has been added to the Lightning Network since the beginning of the year, showing a 23 percent increase and contraction as WBTC added more than 50,000 BTC this year, reflecting growth of more than 8600 percent.

Although 600,000 ETH has been removed from the DeFi protocols, Bitcoin is still in a distant second place. It makes up less than half of Ethereum's 5.6 million total locked coins. In total, nearly 5% of Ethereum's circulating supply is currently locked into DeFi.

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