
Bitcoin is increasingly integrating into the decentralized finance (DeFi) space, moving beyond its traditional role as a peer-to-peer currency. The total value locked in Bitcoin-related DeFi platforms has surged to $1.31 billion, with significant contributions from platforms like Core, Rootstock, and Merlin Chain. Bitcoin's DeFi involvement initially saw $1.07 billion in total value locked. Additionally, Bitcoin Layer 2 and sidechain networks have seen substantial growth, with notable activity on the BOB dashboard since its launch in late April and spikes in May and July. The supply of tBTC on the BOB platform is also showing strong metrics, indicating a robust ecosystem. This expansion signifies Bitcoin's growing acceptance and potential to bring millions of new liquidity into the DeFi sector.
Bitcoin is winning more and more global acceptance... But its ecosystem is just warming up. $BTC Layer 2 has the potential to bring millions of new liquidity. Here's what you can't miss to get into the new wave early 🧵⬇️ https://t.co/DsbxvVQedo
Data for Bitcoin L2s is sparse, but @BitcoinLayers and @redvelvetzip are fixing that! tBTC supply on @build_on_bob looking strong 💪 https://t.co/AQweaYj0ZU
Announcing the 'Bitcoin on BOB' Dashboard After launching in late April, BOB saw activity/growth spikes in May and July. Since then, BTC locked and BTC-related network metrics have stabilized To get a better idea of how BTC (in the forms of WBTC and tBTC) is being used on BOB,… https://t.co/Xeqy2yEpOj
