DeFi picks up the pace as alternate blockchains and NFTs boom

DeFi picks up the pace as alternate blockchains and NFTs boom


As September ended, the cryptocurrency markets recovered from the so-called “September curse” handsomely to hit a market capitalization of $2.32 trillion. The decentralized finance (DeFi) market has been an integral part of this growth. The total value locked (TVL) in DeFi protocols grew more than 20%, from $113.5 billion on Sept. 28 to hit $137 billion on Oct. 6, as per data from Dappradar.

Even the Bank of America (BoA) — a global banking giant — has revealed its bullish outlook on DeFi and nonfungible tokens (NFTs). In an Oct. 4 report by BofA Securities — a subsidiary of BoA — the firm evaluated the scope of crypto assets beyond “just bitcoin.”

(Bitcoin’s strength) can execute automated programs (smart“Tokens such as Ether, Cardano, Solana, and others with

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