Market Wrap: Stuck at $11.5K, Bitcoin Surpasses 25K Locked in DeFi
However, the state of the options market continues to suggest that traders anticipate a bumpier bitcoin ride over the longer term, according to Chris Thomas, head of digital assets for Swissquote Bank. Bitcoiners plow BTC into DeFI
The second-largest cryptocurrency by market capitalization, ether (ETH), was up Thursday trading around $394 and climbing 1.3% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Bitcoin locked in DeFi the past three months.Source: DeFi Pulse
The top place for parking BTC in DeFI: Wrapped bitcoin, or wBTC, which allows investors to use the world’s oldest cryptocurrency on the Ethereum network. Mark Hornsby, chief technical officer for crypto custodian Trustology, told CoinDesk that bitcoin’s role in DeFi could be bullish as investors feel comfortable about its role as the dominant cryptocurrency – and lock more of it inside Ethereum’s network.
