We’re back again with the fourth installment of “What’s Up Bitcoin,” our latest series to keep our followers up-to-date with the highlights of what’s happening in the Bitcoin ecosystem over the past few weeks! 🦾🧵👇
What’s Going On In Bitcoin This Week?
- Data in the BTCfi World.
Firstly, we have some exciting data from the Bitcoin Ecosystem that shows a significant increase in the total transactions of Bitcoin-powered blockchains over the last 30 days. This rise in activity, with B² Network and CoreDAO leading the way, is a clear indicator of the growing adoption and use of Bitcoin. 📈
🎉 In addition, data also shows that the demand for BTC is increasing across multiple networks, with platforms like BNB Chain and Solv Protocol seeing sharp increases in current BTC supply:
📊Finally, on the statistics side of things for the BTCfi world, data from BVM Network’s Bitcoin Heartbeats shows that Bitlayer leads the way with the highest TVL. This is followed by CoreDAO and Rootstock:
- Fractal Bitcoin Launches Mainnet
🥳The mainnet for Fractal Bitcoin officially went live this week, marking a new era in native scaling for Bitcoin. Fractal utilizes the Bitcoin Core codebase to recursively scale unlimited layers on top of the world’s most secure blockchain:
- CoreDAO Hits $300M TVL
💪 CoreDAO hit a major milestone this week after crossing the $300 million TVL threshold, demonstrating the building popularity in the BTCfi world:
In addition to the milestone, CoreDAO also dropped lstBTC this week, a BTCliquid staking token:
CoreDAO also launched its Ignition Drop Season 2, providing more incentives to fuel the BTCfi ecosystem on the Core blockchain:
- Arch Network Releases Litepaper
🧠 Arch Network introduced the Arch Litepaper this week, showcasing how its parallel execution layer enables smart contracts to be deployed on Bitcoin without compromising its security or liquidity:
- B² Network Enters Partnership with Aptos
🤝 B² Network was busy this month after announcing a strategic partnership with Aptos. The partnership will bring the BTCfi world to the Aptos ecosystem, pushing BTCfi into more blockchains. With 2,000 BTC already bridged, this is proving a popular move:
B² Network also announced a partnership with Fox Wallet:
- Merlin Chain Releases H1 2024 H1 Report
⭐️ Merlin Chain released its 2024 H1 report this week, showcasing its TVL growth, its diversity of dApps, and the tokenomics behind $MERL:
Merlin Chain also partnered with BTC OS:
- BoB Hits 10 million TX milestone
The Build on Bitcoin mainnet surpassed 10 million transactions this week. Congratulations BOB 🥳🔥
BOB also saw Solv Protocol being deployed on its network, allowing direct access to the Babylon Labs mainnet through $SolvBTC
- BitcoinOS Breaks Down How L2 Function
BitcoinOS released a detailed breakdown of how its L2 maintains the best qualities of the Bitcoin blockchain, highlighting the permissionless workings of the BTCfi world:
- Satoshi Protocol Rebrands Stablecoin Backed By BTC
Satoshi Protocol rebranded its SAT stablecoin, the first universal stablecoin backed by Bitcoin, to satUSD:
Satoshi Protocol also went live on BOB Forge NFT, allowing users to claim NFTs and unlock exclusive benefits:
- BounceBit Gears Up for BounceBit V2
🤯 BounceBit is gearing up for BounceBit V2, providing additional $BB utility, AI agents, and CeDeFi SaaS:
- pSTAKE Finance Brings BTC Liquid Staking to BNB Chain
@pStakeFinance made history again this month as it expanded Bitcoin Liquid Staking on Babylon to BNB Chain 🔥📈:
In addition, pSTAKE also brought its Bitcoin Liquid Staking model to @Bybit_Web3, pushing the BTCfi world in front of millions of new users:
- Rootstock Announces Lovell Upgrade
🏗️ @rootstock_io made waves this week after announcing the Lovell Upgrade, slated to bring compatibility with the EVM and advance decentralization:
- Stacks Introduces Swap Aggregators and Launches Stacks Asia Foundation
Stacks introduced Bitflow’s swap aggregator this week, which combines multiple DEXs and Lps to give optimal swap rates on Stacks:
Stacks also made waves by launching the Stacks Asia Foundation, which aims to spearhead the growth and development of the Stacks ecosystem in Asia:
14. BVM Network Releases September Roadmap and Hits 121 TPS
📣 Bitcoin Virtual Machine released its September Roadmap this week, showcasing its incoming ZK rollups, BVM infra on Fractal, and AI-powered BVM Studio:
In addition, the BVM Blockchain hit an impressive 121 TPS this week, 17x the average TPS on Bitcoin:
👀 Finally, BVM also intends to bring programmability Fractals through an EVM metaprotocol on the platform to enable devs to deploy ZK Rollups and build EVM-compatible dApps:
15. Tap Protocol Gears Up For New Upgrade
Last but not least, Tap Protocol is gearing up for its latest Tap Update:
That’s everything for today! As you can see, things are very, very busy in the BTCfi world, with L2s and Sidechains hitting new milestones and continuing to bring scalability and programmability to BTC 🔥🥳
The BTCfi growth always continues progressing! 📉
Join us again in two weeks for regular updates on the BTCfi sector ❤️
About Persistence One
Persistence One is building a Bitcoin interoperability solution to enable cross-chain BTC swaps across Bitcoin Layer 2s.
The rapid rollout of Bitcoin L2s and side chains has led to fragmentation, hurting BTCfi scalability. Using the power of intents, Persistence One will enable users to move assets across Bitcoin Layer 2s more efficiently than traditional bridging, offering fast, secure, zero-slippage cross-chain swaps.
Twitter | LinkedIn | Telegram | YouTube | Reddit | [email protected]