Staggering $510,000,000 in Bitcoin Injected Into Ethereum DeFi in Just One Month

Staggering $510,000,000 in Bitcoin Injected Into Ethereum DeFi in Just One Month


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The decentralized finance (DeFi) sector has now seen investors pour more than half a billion dollars into Bitcoin-pegged assets in a single month.

The DeFi analytics and rankings hub DeFi Pulse shows that the amount of Bitcoin locked in Wrapped BTC (WBTC) soared from 16,472 on August 10th to 49,421 on September 10th, representing an increase of over 200% in about a month.

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In addition, DeFi Pulse also shows that the amount of BTC held in the DeFi protocol RenVM has surged from 2,570 to 18,731 over the same stretch.

In total, 49,110 BTC worth over $510 million has been injected into DeFi in just 30 days as Bitcoin trades around $10,385 at time of writing, according to CoinMarketCap.

Source: DeFi Pulse

The skyrocketing amount of BTC being held in

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