BTC locked in DeFi increased by 20X the entire Lightning Network this week

BTC locked in DeFi increased by 20X the entire Lightning Network this week


The amount of BTC locked in decentralized finance projects increased by more than 30% in the past week, despite falls in the price of Bitcoin (BTC) and Ethereum (ETH).

The total USD value locked (TVL) can go up and down with markets, even in the absence of a change in the number of tokens locked. In the past week, the TVL dropped from the ATH of $9.6 billion on Sep 2 to $6.11 billion on Sep 10 before climbing back to $7.82 billion.

According to DeFi tracking platform DefiPulse, the amount of locked BTC increased from 67,038 BTC ($694 million) on Sep 2 to the current all-time high of 87,752 BTC ($904 million), representing an increase of 30.9%. That’s an increase equivalent to 20 times the BTC locked in the Lightning Network.

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More than 50% (51,295 BTC) of the locked BTC sits on Ethereum in WBTC, which accounted for 63% of the BTC growth since Sep 2, locking an

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