Supply Of Tokenized Bitcoin On Etheruem Continues To Rise, Even As DeFi Slows

Image for post
Image for post

The total supply of tokenized BTC on Ethereum reached 150,000 BTC in October, up 21% since September, data from Dune Analytics shows.

However, the amount of Bitcoins tokenized declined in October from September. $737 million Bitcoin were tokenized in September while only $360 million Bitcoin were tokenized in October. The large decline in tokenized Bitcoin is likely due to the slowing DeFi market and shrinking yield-farming opportunities in the space.

The current supply of all tokenized Bitcoins is over 152,000 BTC, according to Dune Analytics, worth roughly $2.3 billion and up over 18,000% since January.

By Emily Mason​

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store