In October, the market volume of tokens secured by bitcoin on the Ethereum network increased by 21%

The total capitalization of Ethereum-tokens tied to the first cryptocurrency in October increased by 21% to 149 550 coins ($ 2.06 billion).

In value terms, the growth in October amounted to $ 359 million. A month earlier, this indicator amounted to $ 737 million, writes Coindesk with reference to Dune Analytics data.

The growth of the capitalization of “Bitcoins on the air” took place against the backdrop of a reduction in the excitement around the space of decentralized finances.

The price of the futures for the Defi-Tokens index in early November fell to a four-month minimum. The volume of trading on decentralized exchanges in October decreased by a quarter. According to Defi Pulse, the total amount of funds frozen in Defi protocols, during this period, decreased from $ 11 https://gagarin.news/.43 to $ 11.16 billion.

The volume of blocked funds in Defi protocols. Source: Defi Pulse.

Analyst Messari Ryan Watkins explained the demand for tokenized bitcoins primarily by profitable farming in Defi projects. After the September peak, the bets were tested in them.

“Curve and Uniswap were major growth drivers. In both cases, profitability has significantly decreased, ”he explained.

Despite the slowdown in bitcoin tokenization, they remained above the pace of his emission. According to Coin Metrics, 26,256 coins were mined in October, and 26,267 were tokenized.

At the time of writing, the share of WBTC in the segment of bitcoins tokenized in Ethereum is 80.7%. RenbTC has 12.6%, HBTC has 3.93%.

The market share of “Bitcoins on the air”. Source: Dune Analytics.

To date, 152,931 tokenized bitcoins have been released on the Ethereum network. Their market value is $ 2.35 billion.

The total number of “bitcoins on the air”. Source: Dune Analytics.

Recall that in mid -October, the Coinlist tokens platform updated the record for the daily issue of WBTC, releasing 4997 tokens in the amount of $ 57.1 million.