DeFi Space Has Tokenized More Than $1 Billion In Bitcoin
insidebitcoins.com
Over $1 billion in Bitcoin (BTC) has been tokenized in order to gain accessed to decentralized finance (DeFi) protocols within the Ethereum (ETH) network. DeFi Pulse, a DeFi data aggregator, has shown that about 98,300 in BTC, which is worth around $1.05 billion, has been tokenized through the use of various DeFi protocols, barring the Lightning Network from Blockstream.
Back in June, the largest portion of BTC within the DeFi space had taken the form of Wrapped Bitcoin (WBTC). ALongside this, various other grassroots tokenization protocols sprouted, such as PieDAO’s BTC++, all of which increasingly boosting the presence of Bitcoin within the DeFi space.
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