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Bitcoin DeFi ecosystem thrives despite market correction

  • 📰 Cointelegraph
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The iconic blockchain now has cross-chain bridges, dApps, and multiple layer-two solutions.

The Bitcoin DApp ecosystem has been reinvigorated by the invention of native protocols such as Ordinals and Inscriptions last year.

“The liquidity revolution of Bitcoin is a necessary prerequisite for the true explosion of BTCFi,” commented SolvBTC founder Ryan Chow. “In the near future, SolvBTC will be launched on and bridged to additional networks, effectively connecting BTC users, chains, and protocols.” Since the launch of its mainnet on March 28, BEVM has boasted over 700,000 user addresses and now hosts more than 30 ecosystem projects. Founded on the Taproot consensus, BEVM utilizes BTC as gas fees to power its Bitcoin cross-chain and liquidity provision platforms. The platform currently is valued at $200 million.

 

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