Analysis: There’s Likely Only $3.5b Locked in Ethereum DeFi, Not $6b

Analysis: There’s Likely Only $3.5b Locked in Ethereum DeFi, Not $6b

When analysts try and gauge the success of Ethereum’s decentralized finance projects, they often look to the “total value locked” metric.

Just today, the metric, up around 1,000% since the start of 2020, surpassed $6 billion for the first time ever. Many Ethereum bulls hailed the achievement of this milestone as a testament to the success of ETH and its applications.

But according to a new…

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