The Alkanes protocol has become the most promising DeFi project in the Bitcoin ecosystem due to its technological breakthrough in implementing smart contracts on the Bitcoin L1 layer. Its debut token #METHANE has achieved a hundredfold increase after the minting ended, with a peak market cap of 36 million USD. The protocol supports the development of decentralized exchanges and other dApps, gaining support from infrastructure providers like UniSat, and attracting global developers to co-build the ecosystem. Currently, the Alkanes ecosystem includes innovative features such as auction minting and private memory pool trading, with AMM functionality expected to launch this month. Analysts believe that the protocol is likely to propel the Bitcoin ecosystem into the DeFi era, with the future ecosystem market cap potentially exceeding 10 billion USD, and the token's liquidity improvement will provide the potential to be listed on mainstream exchanges.