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Ethereum – Ethereum – The value of bitcoins blocked in Ethereum has exceeded $ three billion | Zoom Fintech
Key details:
The WBTC platform, a leader in tokenized BTC, achieved second place in DeFi.
With a locked in value of $ 2.33 billion, WBTC grew 43.4% in November.
The full locked-down value of tokenized BTC reached $ 3.185 million on November 21, while the main BTC platform on Ethereum, The WBTC moved Compound out of second place, behind Maker. WBTC shows, at the time of writing, a frozen value of $ 2.33 billion.
The current bitcoin bullish cycle has helped to increase the tokenized BTC in Ethereum. After breaking the all-time high of 175,000 BTC last week, in response to DeFi Pulse, frozen BTC is meanwhile reaching 170,000.
However, the improvement in the price of bitcoin was decisive in spicing up the value of the tokenized BTC in Ethereum. For this reason, the WBTC platform quickly rose to the top.
Below the graph of the overall value locked in DeFi, which exceeds $ 14,350 million, following the guidelines of the 5 predominant platforms in DeFi. The first of September definitive, The WBTC decreased by one fifth of the blocked value revealed during communication, and it wasn’t among the many many top 10 platforms.
WBTC wins the second place of the DeFi platforms, while the general of blocked value exceeds 14,000 million dollars. Provide: DeFi Pulse.
The biggest improvement of DeFi platforms, lending platforms significantly, was recorded in July, as reported by CriptoNoticias. It was with the introduction of the Compound Token that the overall frozen value exceeded three billion dollars and the so-called curiosity crop or yield farming began to develop widely.
By September, the overall value locked on DeFi platforms had already reached $ 10 billion and has continued to develop. After the July boost, bitcoin’s progress, further pronounced in recent weeks, has helped drive up DeFi’s full locked-down value, stemming from platforms like WBTC and tBTC.
In response to data from DeFi Pulse, The influence of the rising bitcoin price has diminished ETH’s dominance in the frozen value.
This Bitcoin turn on DeFi was confirmed from a different angle by CryptoData when it highlighted an October investor shift from ETH to BTC. ETH continues to hold the lead in DeFi, with over $ 4 billion and 7.5 million ETH blocked, however at its highest value on Oct. 20, there were 9.25 million ETH blocked. Towards this, BTCs locked in DeFi went from 164,000 to 170,000. within the equivalent interval of the last 30 days.
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