
DApps Ride on Shoulders of DeFi to Record 1200% Growth
The report estimates that the transaction volume in DApps in 2019 was $21 billion, meaning there has been a 1178% increase.
$62 618
1H
-0.03%$18.79
24H
0.67%$416.7
7D
11.48%$6 448.3
30D
11.44%$6 428.1
Wrapped Bitcoin is a tokenized version of Bitcoin (BTC) that runs on the Ethereum (ETH) blockchain.
WBTC is compliant with ERC-20 — the basic compatibility standard of the Ethereum blockchain — allowing it to be fully integrated into the latter’s ecosystem of decentralized exchanges, crypto lending services, prediction markets and other ERC-20-enabled decentralized finance (DeFi) applications.
WBTC is also backed by Bitcoin at a 1:1 ratio via a network of automatically monitored merchants and custodians, ensuring that its price is pegged to Bitcoin at all times and allows users to transfer liquidity between the BTC and the ETH networks in a decentralized and autonomous manner.
The report estimates that the transaction volume in DApps in 2019 was $21 billion, meaning there has been a 1178% increase.
The listing of these new tokens is a testament to Coinbase Custody’s plans to provide support for more assets for the benefit of its over 300 institutional clients.
However, Changpeng Zhao warned that some Defi projects will not last long and possibly never recover from the bubble.
Swingby is the “warp-speed” protocol for inter-blockchain swaps. It allows all DeFi users to move assets between blockchains without a trusted party.
For the time being, the DEX industry is still in its infancy. Facilitating swaps of tokens on the same blockchain is possible, but the time has come to explore the next frontier in the form of cross-chain trading.