Bitcoin and Ether have been blocked in DeFi ventures to date for $30 billion. This indicator is 2700 percent higher than six months ago, based on DeFi Pulse aggregation results.
Although the number of assets decreased, the growth of TVL (total blocked value) is observed. This figure has therefore risen from $1 billion in less than a year to $30 billion.
The interest in decentralized finance is primarily due to this. The number of users of DeFi projects is steadily rising, and even though some who have previously earned HYIP withdraw capital, the inflow of investments is not decreasing.
Nevertheless, in the same era, the key driving force behind TVL is the increase in the prices of BTC (264%) and ETH (545%). These cryptocurrencies are responsible for the blocked value’s share of the lion. A few data from statistics are available to explain the size.
To date, Ethereum coins have been blocked to 7.43 billion by 24 percent. This is compensated by the high rise in cryptocurrency rates, which currently surpass $1,600. In contrast, TVL rose in ETH from 3.4 billion dollars to 11.9 billion dollars during the same period.
In addition, the outflow of DeFi tokens is diminishing. This shows that DeFi ventures have prospects for growth in 2021.