Opinion | Liquidity Mining is Causing Ethereum to "Cannibalize" BTC

Author: Martin Young The competition for cryptocurrency dominance is being driven by the DeFi landscape, as DeFi protocols and tokens have outperformed Bitcoin and related products this year. Ethereum is the foundation of this new financial landscape and has been bringing increasingly more BTC into it. The DeFi market quickly rebounded from what appeared to be a correction. According to DeFi Pulse data, the total value locked has broken through the historic high of $1.7 billion.