Binance Lists Solv, Counting the Bitcoin Ecosystem

The Bitcoin ecosystem gained significant attention earlier this year. Some believe that as the leader of the entire cryptocurrency market, Bitcoin's liquidity, once released, will surpass that of any other public chain ecosystem. Others argue that the Bitcoin ecosystem is a false proposition, as Bitcoin's liquidity does not lie in the hands of retail investors; instead, Bitcoin does not need an ecosystem, but rather the Bitcoin ecosystem needs Bitcoin. With Solv's listing on Binance, the debate is likely to intensify. Today, let's discuss the Bitcoin ecosystem, starting with the wallet that serves as the entry point for traffic. The wallet most frequently used by players in the Bitcoin ecosystem, and regarded as the best experience, is OKX Wallet. It can be said that the OK Web3 wallet and the Bitcoin ecosystem mutually enhance each other. Next, the wallet that is also widely used is Unisat, primarily driven by BRC20. Speaking of BRC20, we must mention Ordinals, which has given rise to numerous asset issuance protocols on Bitcoin's first layer. Initially serving as NFTs, it has also evolved into BRC20 as a token issuance standard, along with BRC721, BRC420, ORC20, and others. It is evident that during that period, asset issuance in the Bitcoin ecosystem was flourishing. However, despite the many protocols, there has not been a strong and relatively unified asset issuance standard. Apart from the first layer, there are also many teams working on the second layer of Bitcoin. Some of the older ones include the Lightning Network and the RGB protocol, while new Bitcoin second layer ecosystem teams in 2024 are mainly focused on Rollup and sidechain technology directions. Rollups include Merlin (which, influenced by airdrops, almost reached a TVL of $2 billion) and BitVM, while sidechains include Stacks and Nervos. Do you think the Bitcoin ecosystem is a fictitious demand?