According to TechFlow, the Bitcoin decentralized finance (DeFi) ecosystem witnessed remarkable growth in 2024, with its total locked-in volume (TVL) surging by over 2,000%. The TVL grew from $307 million in January 2024 to a staggering $6.5 billion by December 31, 2024.
This exponential increase was largely attributed to the Bitcoin staking and re-staking platform Babylon, which accounts for more than 80% of the total Bitcoin DeFi locked volume. Babylon’s innovative approach to staking has fueled significant interest, cementing its position as a cornerstone of the Bitcoin DeFi ecosystem.
