$1.5 Billion of BTC Locked Up In Ethereum

摘要： Bitcoin maxis are turning to the dark side as the value proposition of DeFi sees record levels of Bitcoin on Ethereum.

As of Sunday, October 11, there was a reported 131,455 Bitcoin on Ethereum, which, according to metrics provided by Dune Analytics, equates to 3.6% of the total market cap of Ethereum.

Even during bearish periods, Bitcoin is being used regularly and with confidence on Ethereum. According to DeFi Pulse, there has been a ten-fold increase in Bitcoin held in smart contracts since the beginning of June.

The DeFi landscape has lured a host of Bitcoin maximalists, unable to resist the opportunity provided by Ethereum-based decentralized finance applications. The DeFi boom of 2020 has caught the eye of a large number of Bitcoin holders growing tired of stagnation and a lack of innovation or progression.

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