Bitcoin and Ether now account for 44% of the value locked in DeFi

Bitcoin and Ether now account for 44% of the value locked in DeFi


The recent explosive growth of decentralized finance (DeFi) has seen the sector lock nearly $4 billion worth of Bitcoin (BTC) and Ether (ETH) in less than five months.

According to DeFi Pulse, the number of Ether locked up in DeFi protocols increased 218.5% since June, growing from 2.7 million ETH to 8.6 million ETH. Locked Bitcoin has grown more than 3,000%, from 5,000 BTC mid year, to roughly 158,800 BTC today.

On October 14, crypto asset exchange and investment platform CoinList set a new record for the largest sum of Bitcoin tokenized by a single entity in one day using the Wrapped Bitcoin protocol. CoinList minted 4,997 WBTC, or $57.1 million worth of Bitcoin, on behalf of its clients for use on the Ethereum network.

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The value of Ether locked in DeFi is $3.24 billion, or 7.6% of Ethereum’s total market cap. The total amount of BTC locked is $1.81 billion, or 0.85% of Bitcoin’s market cap.

Despite the

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