SwBTC Reaches $30 Million TVL Within 10 Days of Launch

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The rapid growth of swBTC's TVL and adoption by DeFi protocols suggest its potential to become a major player in the Bitcoin liquidity market, driving further innovation and adoption of L2 solutions.

According to BlockBeats, the total value locked (TVL) of Swell's newly launched Bitcoin liquidity re-staking token, swBTC, has surpassed $30 million within just 10 days of its release. The token has attracted over 560 unique holding addresses during this period.
A significant portion of the swBTC supply has been integrated into major decentralized finance (DeFi) protocols such as Curve and Morpho, accounting for 8% of the total supply. Additionally, Swell is actively developing Layer 2 (L2) solutions, with users already depositing 68% of the swBTC supply in anticipation of its launch.

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