DeFi Crosses $1 Billion for the Second Time but ETH TVL Remains Despondent
On this occasion, the milestone has less to do with ETH. Is this cause for concern?
Decentralized Finance has crossed $1 billion “total value locked” (TVL) and is approaching new all time highs thanks to the likes of WBTC and Aave, two networks that have seen tens of millions added to their portfolios in recent weeks. However, this milestone – which has been crossed once before – has come about largely from assets other than ETH, with Ether’s use as collateral trending downwards since March 12th and reaching a level not seen since November 2019.