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$60 Million Worth Of Bitcoin Moved Onto Ethereum In June

Emily Mason

Summary: $60 million worth of Bitcoin moved onto Ethereum in June — over $33 million more than in May — as reported by Coindesk. Bitcoin is being used increasingly often in decentralized finance applications. Yield farming is a likely cause for the increased transfer of Bitcoin to Ethereum.  Former associate at Deutsche Bank and co-founder of cryptocurrency research ...

$60 million worth of Bitcoin moved onto Ethereum in June — over $33 million more than in May — as reported by Coindesk.

Bitcoin is being used increasingly often in decentralized finance applications. Yield farming is a likely cause for the increased transfer of Bitcoin to Ethereum. 

Former associate at Deutsche Bank and co-founder of cryptocurrency research firm Delphi Digital, Medio Demarco, told Coindesk to expect transfers of Bitcoin onto Ethereum to continue as the field of defi grows and wrapped Bitcoin becomes more and more necessary.

By Emily Mason

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