The DeFi industry is getting a lot of attention lately. Whereas most people look at Ethereum, it appears that Bancor is growing quickly as well.
Bancor is one of the many protocols catering to users seeking financial products and services.
DeFi on Bancor Gains Traction
It is only normal that this protocol would make inroads in the DeFi industry as well.
Its numbers pale compared to Ethereum, but the progress is still visible for everyone to see.
Today, it seems as if over $13.34 million is locked in Bancor DeFi solutions.
That is a more than respectable amount, especially for a segment that seems to get very little attention.
Moreover, it would appear that the Bancor protocol has seen an influx of developer activity lately.
That is always a good sign.
Every protocol, network, or project needs to keep evolving every single day.
Why this interest in Bancor’s DeFi is on the rise, remains somewhat of a mystery.
Diversification is key in any industry, and decentralized finance is no exception.
Combined with the recent bullish crypto market behavior, interesting things are bound to happen.
Some competition for Ethereum is also more than welcome in this regard.
After all, the cryptocurrency space is vast and versatile.