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What a year 2020 has been for the crypto world. Most of the major cryptocurrencies, barring a few, achieved all-time-high prices. It includes the likes of Bitcoin and Ethereum. But there s one segment of the crypto world that made the most out of 2020. Yes, we are talking about decentralized finance, popularly referred to as DeFi.
The growth of DeFi in 2020 was such that many call 2020 to be the year of DeFi. Let s have a look at some of the statistics that depict how DeFi made its presence felt in the world of cryptocurrencies. The DeFi sector is quantified in terms of the total amount of value locked in all DeFi protocols. This figure is known as Total Value Locked or TVL.