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