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The Defiant 2025-01-20 22:27:29

Bitcoin DeFi TVL Doubles in a Month Fueled by Babylon Staking Platform

The Bitcoin decentralized finance (BTCFi) ecosystem exploded last month, with its total value locked (TVL) more than doubling to $7.5 billion. The growth was driven by the Bitcoin staking protocol Babylon opening up its third round of deposits from Dec. 10 to Dec. 17. $3.8 billion of the $4 billion added to BTCFi TVL that week came from Babylon, according to DeFiLlama. Almost 110,000 Bitcoin holders rushed to stake their tokens on Babylon, which takes a new approach to staking Bitcoin to secure other proof-of-stake blockchains. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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