Recently, @BitlayerLabs has suddenly become a hot topic. On August 13th, it launched a Pre-TGE on the Binance Wallet, a pre-token generation event that allowed users to participate in advance using Alpha Points. A total of $400,000 in BNB was raised, corresponding to 200 million BTR tokens at a price of $0.02 (a FDV of $20 million). Many on Twitter complained about the high barrier to entry, requiring at least 222 points, while others excitedly stated that this was the next "launch point" for the Bitcoin ecosystem. Meanwhile, BTR has been listed on platforms like WEEX and Toscale, primarily trading in the BTR/USDT pair. Another major news story is that its TVL (total value locked) has surged by $353 million, or 372%, over the past 30 days to a current level of $448.8 million. This data reminds me of an analysis post I came across a while ago, where someone compared BitlayerLabs and competitors like BNB and Core to the "three pillars of Bitcoin Layer 2." BitlayerLabs saw the most rapid growth because it wasn't just driven by hype but also had real miner support. Partners controlled nearly 40% of Bitcoin's hash rate, ensuring the security of the bridge.
They also launched a Booster event with Binance Wallet, offering a total reward of 30 million BTR. Starting on July 24th, the event featured phased challenges, including social tasks, holding small amounts of BTC, and minting BitVM SBT. Someone on Twitter shared their experience participating, saying that holding the Lucky Helmet NFT earned them a share of 800,000 BTR, which felt like winning the lottery. This event not only attracted new users but also strengthened collaborations with BNB Chain, Sui, and Avalanche, building a multi-chain ecosystem. Another highlight was the public offering, which was sold on CoinList at $0.20. 95% of the tokens were allocated to HOLD holders, and 100% were unlocked during the TGE. This is 33% lower than the previous VC round price, presenting a promising opportunity for retail investors. Twitter bloggers have a wide range of price predictions, with some predicting a range of $0.15-0.20, while others worry about a $0.20 price spike. However, data suggests BitlayerLabs' ecosystem is highly active, with transaction volume ranking among the top three in Bitcoin's Layer 2 ecosystem, indicating significant future potential.
BitlayerLabs gives me hope for the future of Bitcoin DeFi. It's not one of those hype-driven projects; it's truly building bridges and paving the way. If you're a BTC holder, keep an eye on its Pre-TGE and Booster events; they might just be the next opportunity.
