Wrapped Bitcoin tops $1B after 900% increase in two months
cointelegraph.com
The recent DeFi bull-cycle has pushed the total value locked (TVL) of popular Bitcoin (BTC) tokenization protocol Wrapped BTC (WBTC) up by 900% to surpass $1 billion. Wrapped Bitcoin is now the fifth-largest DeFi protocol in terms of TVL, representing nearly 10% of the entire sector’s locked capital.
In the first half of 2020, WBTC’s TVL grew from $4 million to $36 million, demonstrating the extreme surge in demand for DeFi during the third quarter. The DeFi bubble has also benefited other Bitcoin tokenization protocols, with Ren’s (REN) VM locking up more than $300 million worth of BTC since launching at the end of May.
Read in Full: cointelegraph.com
