At the moment, bitcoins for a total amount of up to $ 6.2 billion are blocked in the WBTC DeFi protocol.
In fact, 1% of the total cryptocurrency market supply is now locked up in a project deployed in the decentralized finance market. Kia Mosyeri, representing the top management of BitGo, wrote about this on Twitter.
The WBTC (Wrapped BTC) project was launched in January 2019. The ERC-20 token is supported by Bitcoin.
According to the EtherScan service, 187,610 BTC are currently blocked in this protocol. Given that the current market supply of the cryptocurrency is 17.73 million coins, thus about 1% of the Bitcoin supply is within the WBTC project.
According to the latest estimates from BTConEthereum, at the moment 240,620 bitcoins are tokenized in various Ethereum-based protocols. Their total cost exceeds $ 7.9 billion.
The leading position is held by WBTC, this project controls up to 78% of tokenized bitcoin on Ethereum.
Note that the value of all funds blocked on the DeFi market and deployed on Ethereum now exceeds $ 59.17 billion. The top three include projects Aave, Maker and Compound.
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