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…
