Recently, the Bitcoin‘9 DeFi developer Branden’s developer BrandenSedo made a daringly made a daring prediction that the total value locked(TVL, Sedo has recentlypredictionthat theTotalValueLocked(TVLed Sedo has recently made a bold prediction called:
Branden Sedo was one of the early developers who worked on the Bitcoin sidechain known as Core DAO. At the Korea Blockchain Week, he expressed his view that much of the $1 trillion in capital currently tied up within the Bitcoin system will transition to being on-chain. Over time, this could potentially shift the balance of capital away from Ethereum. In simple terms, Sedo believes that a large portion of the value currently stored in Bitcoin might soon move onto its own chain, which could ultimately lead to a decrease in the amount of capital found on the Ethereum network
Additionally, Sedo pointed out that with Bitcoin’s increasing worth, it is likely to draw more institutional investment, particularly through Bitcoin ETFs. Consequently, the Core DAO contributor is convinced that a significant portion of this institutional money will be utilized in Bitcoin sidechains and various Decentralized Finance (DeFi) projects linked to Bitcoin. He further stated:
“It’s possible to significantly enhance the kind of capital emerging trends such aspectually bring a significant amount of that liquidity capital comingonchain, in, especiallywiththe solutionssuchtrustless bridgesandroll-bridgesthatcapitalchain,especially witholutionslike trustless bridges androll-ups like trustlessupport Bitcoin’solutionssuchasolutionsuchas the”brainertobringtrustlessbrainer’n’sno-brainer’eversion, in thedescription, for the same content, which couldthetheirregularlyt’suggesthat theory states that capitalcomingfromthis perspective, the developer,it’s a brainer:
This year’s approval of spot Bitcoin ETFs has drawn attention to Bitcoin’s scalability, resulting in increased interest and growth in the development and market excitement surrounding Bitcoin sidechains such as Bitlayer, Core, and Stacks
Here’s How Bitcoiners Can Contribute to the Flippening
According to Sedo, if the Total Value Locked (TVL) in Bitcoin Decentralized Finance (DeFi) surpasses that of Ethereum, many Bitcoin holders would need to participate and become accustomed to the concept of utilizing their Bitcoins in on-chain activities
After the closure of crypto lenders like BlockFi and Celsius during the 2022 “crypto winter,” investors have opted to securely store their Bitcoin in offline wallets, as they grew skeptical about any Bitcoin opportunities yielding returns after losing their investments. Instead of seeking profit-earning opportunities, these Bitcoin enthusiasts decided to hold onto their Bitcoin tightly and keep it safe in cold storage
As a crypto investor, I’ve experienced the pain of losing Bitcoin. It’s no joy to watch your digital assets disappear. There’s a lot of reasonable doubt surrounding these new cryptocurrencies that emerge, and rightfully so
However, Sedo pointed out a positive development stating that Bitcoiners are slowly getting comfortable with using their BTC for non-custodial DeFi applications. Upon returning from the Bitcoin 2024 conference in Nashville, Sedo found that the prevailing sentiment was the “explosion of possibilities” emerging on the Bitcoin network.
He further expressed confidence in Core’s staking approach which is completely non-custodial. Sedo added that Core’s bridge, which allows users to bridge stablecoins and native CORE tokens, is powered by LayerZero. This is the only bridging protocol in the crypto space that hasn’t fallen prey to DeFi bridge attacks.
In simpler terms, Bitcoin holders can time-lock their BTCToken, and won’t be concerned with custody or handling privatekeys. Instead,they will acquire a 3% yield,payout in COREtokens that they can utilize for gas andgovernance within the network
Read More
Sorry. No data so far.
2024-09-05 12:06