Bitcoin fell back to around $64,550 again this week, causing the total crypto market value to fall by 3.61% in the past seven days, and transaction volume decreased by 18.84% compared to the previous week.
Franklin Templeton Digital Assets highlighted the rise of Ordinal Inscription in a new prospectus, noting that there has been a renaissance in innovation and development activity for Bitcoin. Mainly driven by Bitcoin NFT (Ordinals), BRC-20 and Runes, Bitcoin Layer 2, and other Bitcoin DeFi.
Separately, OKXVentures announced a seed round of financing for UTXO Stack. UTXO Stack is a modular BTC Layer 2 blockchain startup platform that provides more possibilities and technology choices for the Bitcoin ecosystem. This project unleashes the technical potential of Nevos and the RGB++ protocol, allowing more developers to build the second layer of RGB++ native to the BTC ecosystem with a low threshold. UTXO Stack provides developers with the possibility of UTXO asset issuance and high-performance Appchain, and is expected to bring more scalability, lower user thresholds and more interesting native innovations to the Bitcoin ecosystem.
In my opinion, Franklin Templeton Digital Assets’ emphasis on Ordinal Inscription shows the continued innovation and development of the Bitcoin ecosystem. The seed round financing of UTXO Stack also shows that the Bitcoin ecosystem is ushering in more investment and development. Taken together, the Bitcoin ecosystem remains vibrant and is expected to continue to develop and grow in the future. The third wave of inscriptions is about to begin!
