This figure doesn’t include any of the centralized organizations and platforms which conduct or facilitate Bitcoin financial services.
Locking these coins allow Bitcoin holders to generate yield, leverage their Bitcoin as collateral, or utilize their Bitcoin in various smart contracts.
Many “Maximalist” leaning Bitcoiners will be quick to point out the potential downsides associated with using Bitcoin at all, and each locked bitcoin solution has a unique risk and privacy profile.
I am the Director of Research and Development at Inca Digital, a data and intelligence provider in the digital asset space.
Before Inca, I helped start up a pharmacogenetics laboratory and worked in neurodegenerative research.