The number of BTC tokens has been growing in recent months. As of October 11, 131,455 BTCs, equivalent to $1.49 billion, have already been blocked on the Airwaves to provide tokens.
According to Dune Analytics, 73% of BTCs are blocked in Wrapped Bitcoin (WBTC) tokens and 20% in renBTCs. Users tokenize the BTC on the Etherium to get the most out of the DeFi paper. According to DeFi Pulse, investors have already invested $10.82 billion worth of crypto assets in DeFi smart contracts.
As one of Reddit users noted, 130 times more BTC is blocked in the Airwaves than in the Lightning Network. This suggests that the owners of bitcoins are more interested in their BTC to work with the protocols of the Etherium than with the applications on the native block.
The number of blocked BTCs on the Airwaves has been growing since the summer. Back in July, the equivalent of $180 million bitcoins were blocked on the Airwaves, mostly in WBTC, sBTC and renBTC tokens. At that time, about 1,000 BTCs were blocked in the Lightning Network - their number remained almost unchanged for three months and now is 1,100 BTCs.
In mid-September, the number of tokenized bitcoins increased to 92 600 BTC, and their value exceeded $1 billion. Since July, the figure has increased almost five times.
