Looking back over the past year, the BTC ecosystem is following the path that ETH has taken in a super-concentrated way.

First, hype: on-chain assets (inscriptions)

Second step: expansion (Merlin)

Finally: Staking/Restaking

First half of the year:

ETF benefits have been released, and meme PVP is heating up. The concepts of sol base ai depin rwa restaking ton have been performed in turn.

What is the next key narrative?