$BTC
- The rising price of Bitcoin (BTC) significantly impacts the decentralized finance (DeFi) sector on the Bitcoin Blockchain. Data from DefiLlama shows that the total value locked (TVL) in DeFi protocols on the Bitcoin Blockchain rose from $304.66 million on January 1, 2024, to $7.117 billion at the time of writing this news.
Source: DefiLlama This recent growth in the decentralized finance sector on the Bitcoin Blockchain – often referred to as BTCFi – is likely due to the influx of institutional investments, the launch of new protocols, flexible rehypothecation, Bitcoin-backed loans, yields, and more.#BinanceHODLerERA
