DeFi Tops $100 Billion for First Time as Cryptocurrencies Surge

Bitcoin’s record rally helped push the value of assets used in decentralized finance to $100 billion for the first time, according to data compiled by DeFi Pulse. DeFi Pulse calculates the amount by combining the balance of Ether and other assets held in smart contracts settled on the Ethereum blockchain and multiplying them by their price in dollars.

Lending on cryptocurrency platforms rose 14.9% from last week to $50.7 billion, according to DeFi Pulse. Cryptocurrency exchange transactions on DeFi networks climbed 8.6%. The number of Bitcoin used in decentralized finance rose 8% to 209,575 from 194,130 a week earlier. The number of Ether used increased 3.5%.

Bitcoin rallied 4.5% to a record $66,976 earlier today. Ether rose as much as 8.7%.