More than $1B in Bitcoin has been tokenized for DeFi

More than $1 billion worth of Bitcoin (BTC) has now been tokenized to access decentralized finance (DeFi) protocols on the Ethereum (ETH) network. That’s equivalent to the entire total value locked (TVL) in DeFi less than four months ago.

According to DeFi Pulse, roughly 98,300 BTC, worth $1.05 billion, has been tokenized using protocols other than Blockstream’s Lightning Network — equating to more than 12% of the DeFi’s sector’s $8.57 billion combined capitalization.

Number of…

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