Over $1B worth of Bitcoin is locked in DeFi
coinjournal.net
According to data from DeFi Pulse, the tokenization of Bitcoin on the Ethereum network has greatly increased since the start of the year. At the start of June, just over $47.5 million worth of Bitcoin had migrated to Ethereum via synthetic BTC (Bitcoin minted on protocols such as Wrapped Bitcoin (wBTC) and RenVM (renBTC).
At prevailing BTC/USD prices of around $10,740, Bitcoin accounts for over $1 billion of the total value locked in protocols on Ethereum. As the value locked in DeFi protocols via the tokenization of Bitcoin spikes, the story is quite different for Lightning Network.
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