RATE Group | Ethereum DeFi Sets Record as Bitcoin Rallies by 30%
66661
wp-singular,post-template-default,single,single-post,postid-66661,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum DeFi Sets Record as Bitcoin Rallies by 30%

27 Oct Ethereum DeFi Sets Record as Bitcoin Rallies by 30%

Posted at 07:05h in Ethereum News by

[ad_1]

If you’ve been following Ethereum’s narrative at all over the past few months, you have likely noticed the growth of the decentralized finance (DeFi) ecosystem.

While some have written off Ethereum-based finance as a pure fad with little viability, this segment of the cryptocurrency ecosystem is quickly swelling. DeFi Pulse, an analytics group tracking this facet of Ethereum’s network, recently wrote that “we have set a new record for total ETH locked in decentralized finance.”

Their tracker currently registers a jaw-dropping 2.364 million ETH locked in smart contracts for DeFi. This sum of Ether is worth around $425 million and represents just around 2% of all of the cryptocurrency in circulation. Crazy.

 

According to Ryan Sean Adams, the founder of Mythos Capital, the growth in DeFi has had a…

[ad_2]

Source link