Originally released On: 12 Dec 2021 via blockchain.news (Link below)
Ethereum Total Liquidity in DeFi Protocols Climbs to $90.7B, Despite Price Slip
The dominance of Ethereum in the decentralised finance (DeFi) ecosystem continues to gain steam because total value locked (TVL) in this space surged by 14.43% to hit $90.7 billion.
Meanwhile, the crypto community has been waiting with bated breath for the rollout of Ethereum 2.0 because it will transition the current proof of work (PoW) consensus mechanism to a proof-of-stake (PoS) framework.
This amount invested represents approximately $30.12 billion based on the current rates and is intended to show the viability of the PoS consensus mechanism.
Launched in December 2020, Ethereum 2.0, also known as the Beacon Chain, is seen as a game-changer because it will make the ETH network more environmentally friendly and cost-effective.