Lucie mentioned the decentralized finance ecosystem on Shibarium after she spread the world a little earlier that SHIB DeFi had reached a major milestone – the amount of total value locked (TVL) on Shibarium surpassed $7 million. TVL refers to the total amount of tokens staked or locked on the platform. These funds have been locked on three major DeFi platforms related to Shibarium.
K9 Finance’s K9BONE boasts the highest amount of TVL: $3,120,000. ShibaSwap and WoofSwap DEXes are holding $2,460,000 and $848,546 in locked value, respectively.
The all-time high of $7 million achievement happened approximately within a week after SHIB’s strategic partner, K9 Finance, integrated liquid staking on Shibarium.
Over the past 24 hours, Shiba Inu has demonstrated a mild increase of close to 5% to kickstart “Uptober.” This was the first increase of the meme coin since it burned a zero and reached a peak of $0.00002141 on Friday, Sept. 27, and Saturday, Sept. 28, as a result of a 42% surge in a single day.
As for the flagship cryptocurrency, Bitcoin has so far shown a short-lived increase above the $64,000 level today. However, the price was quickly pushed back to $63,880. From Sunday to Monday this week, BTC has seen a massive 4% plunge, falling from the $65,970 zone to $63,290.
ADA and DOGE came the closest after SHIB, with 14.5% and 12.4% gains that week. Bitcoin and Ethereum showed profits of 3.4% and 6.7%, while Solana put up 9%.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
