We’re back again with the sixth 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! 🦾🧵👇
1. BitcoinEcosystem Shows rising BTC Locked on Blockchains and Protocols
First off, data from our friends at BitcoinEcosystemTK shows that the total BTC locked on Blockchains and protocols continues to rise.
CoreDAO is leading the way with an astonishing 6580 BTC 😱
Bitlayer has 5,300 BTC and Lightning Network has 5,200 BTC
Things are really heating up in BTCfi…it’s undeniable now.
2. Lombard Finance Mints 10,000 LBTC
Lombard Finance minted an astonishing 10,000 LBTC – a Liquid Staking Token version of BTC.
It shows that liquid staking on Bitcoin is in hot demand…and it’s just getting started. We really do have an exciting 2025 incoming in the BTCfi world.
3. CoreDAO Teases Fusion Upgrade
CoreDAO teases its upcoming Fusion Upgrade, introducing Dual Staking and LstBTC.
The LstBTC will be pegged 1:1 with Bitcoin, allowing stakers to earn CORE token rewards.
In addition, Dual Staking offers higher Bitcoin staking rates for users staking BTC and CORE tokens 🔥
4. Stacks Nakamoto Upgrade Coming This Week
The much-awaited Nakamoto Upgrade is coming to Stacks THIS WEEK.
What an exciting time for our friends as the L2 goes from milestone to milestone.
In addition, Stacks is also gearing up for its sBTC launch and is teasing some more exciting releases.
What could it be? 👀
5. B² Network Closes Funding Round
Congratulations to our partners B² Network for closing a funding round led by @TheSpartanLabs, @animocaventures, @alliancedao, and @PolygonVentures.
With over $300M Bridged TVL, B² Network is on fire, and we couldn’t be prouder to have them as a partner onboarded to our interoperability infrastructure!
6. BOB Launches Hybrid L2
Our friends at BOB launched its Hybrid L2 vision product!
The new platform is focused on helping prevent BtC fragmentation across chains and exchanges, which is exactly why they’re one of our partners as we’re both helping connect the BTCfi world together to make it interoperable 🤝
7. Merlin Chain Teams Up With Ethereum Network
Finally, Merlin Chain made history this month after teaming up with the Ethereum network, making it easy to securely bridge $MERL and $MBTC from Merlin Chain to Ethereum Mainnet.
All of these integrations simply means that Bitcoin is heading to DeFi and the largest generational opportunity is upon us. We call it BTCfi.
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.
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