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As Bitcoin s rally pushes ahead, even its harshest detractors have been forced to mute their criticisms. Blockchain is the next frontier for financial applications, and with Bitcoin s market capitalization rivaling the GDP of some small countries, the world of finance is definitely in for some decentralization. Bitcoin s explosive growth finally has institutional investors perking their ears up to listen, but it s not necessarily the original cryptocurrency that s sparked their interest.
Decentralized Finance (DeFi) has been the name of the game for the last year, measuring record-breaking growth across multiple sectors. Since the start of last year, DeFi s Total Value Locked (TVL), or the total ETH locked into DeFi platforms, has grown from just under $700 million to over $50 billion today.