The surge in Bitcoin’s value is having a ripple effect across the world of digital finance, boosting the total value locked (TVL) in Decentralized Finance (DeFi) platforms beyond the $100 billion milestone.
DeFi, a segment of the blockchain industry comprising platforms that offer financial services such as lending, trading, and saving without an intermediary, famously uses smart contracts on the Ethereum network. The funds on these platforms, also known as TVL, serve as a measure of the whole sector’s popularity. As more individuals lock their digital assets into these platforms, the TVL rises.
Bitcoin, a significant DeFi collateral type, saw a significant upsurge recently, which escalated the value of bitcoins locked in DeFi, and therefore pushing the TVL figure past the impressive $100 billion mark. This milestone is another testament to the increasing acceptance and adoption of decentralized financial systems worldwide.
Bitcoin Surge Propels DeFi TVL Past $100 Billion Milestone
The surge in Bitcoin’s value is having a ripple effect across the world of digital finance, boosting the total value locked (TVL) in Decentralized Finance (DeFi) platforms beyond the $100 billion milestone.
DeFi, a segment of the blockchain industry comprising platforms that offer financial services such as lending, trading, and saving without an intermediary, famously uses smart contracts on the Ethereum network. The funds on these platforms, also known as TVL, serve as a measure of the whole sector’s popularity. As more individuals lock their digital assets into these platforms, the TVL rises.
Bitcoin, a significant DeFi collateral type, saw a significant upsurge recently, which escalated the value of bitcoins locked in DeFi, and therefore pushing the TVL figure past the impressive $100 billion mark. This milestone is another testament to the increasing acceptance and adoption of decentralized financial systems worldwide.
