📣Attention cryptocurrency lovers! Bitcoin DeFi (BTCFi) is gaining traction and could match the innovation of Ethereum-based DeFi. Nash Lee, co-founder of MerlinSwap, believes that DeFi is the only sector capable of meeting the growing market expectations.

MerlinSwap, a DEX built on the Bitcoin layer-2 network, raised 6,599 Bitcoin (BTC) valued at $480 million during its initial offering (IDO) on April 5, demonstrating market confidence in Bitcoin-native DeFi applications.

Additionally, the introduction of the BRC-20 token standard has enabled the minting of NFTs on the Bitcoin blockchain for the first time. Bitcoin's native NFTs, known as Ordinals, are enrolled directly into satoshis (sats), providing them with a permanent home on the Bitcoin network.

These advancements are just the beginning of BTCFi, which promises to bring more uses to Bitcoin. What do you think of this growth in the Bitcoin DeFi space? Share your thoughts in the comments! 💬