Bitcoin Protocol Babylon Pulls in $1.5B of Staking Deposits as Cap Lifted

Babylon, a Bitcoin staking platform billed as a new way of providing the original blockchain's security to new protocols and decentralized applications, pulled in about $1.5 billion worth of bitcoin on Tuesday after briefly opening to additional deposits. The uptake could show robust demand for a growing decentralized finance (DeFi) ecosystem atop the 15-year-old Bitcoin blockchain, previously confined to alternative networks like Ethereum and Solana. The cap was lifted for about 10 Bitcoin blocks over the course of one hour and 23 minutes, with the only restriction being that users could only stake up to 500 BTC per transaction.

Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!

iOS: https://links.hashd.co/ios

Android: https://links.hashd.co/android