In the current rapid expansion of the Bitcoin ecosystem, @BitlayerLabs is a highly regarded BTC Layer2 project that has been active in recent months. From technical breakthroughs to capital operations, from community building to ecosystem expansion, this project seems to be making final preparations for its TGE. However, behind the bustling façade, we need to calmly examine: is BitlayerLabs truly an innovator in the BTC ecosystem, or just another overvalued bubble?
On July 16, BitlayerLabs released the highly anticipated 'Summer Launch 2025' plan, with the most notable aspect being the official launch of the BitVM Bridge mainnet. This technology breakthrough, referred to as the 'trust-minimized BTC bridge,' theoretically solves the core dilemma of Bitcoin cross-chain.
From a technical perspective, the launch of BitVM Bridge is indeed a milestone. Traditional BTC cross-chain solutions often rely on multi-signature custody, which poses obvious centralization risks. The BitVM technology, through complex off-chain computation verification mechanisms, theoretically allows for a more decentralized BTC cross-chain. BitlayerLabs claims this is the first implementation of BitVM, and if true, it is indeed worth industry attention.
But we must also recognize that the commercialization of technological innovation is often more challenging than theoretical breakthroughs. Currently, the actual usage data and user feedback for BitVM Bridge are still limited, and its stability, security, and user experience need time to be validated. More importantly, in the context of existing mature BTC Layer2 solutions like the Lightning Network and RGB, BitlayerLabs needs to prove that its technical advantages are not just on paper.
Data shows that BitlayerLabs' TVL experienced an astonishing growth in a short time: from $386 million on July 22 to a peak of $850 million in early August, then dropping back to around $440 million. What does this rollercoaster-like TVL change reflect?
By observing the daily active address data (60,000 to 80,000), we can find an interesting phenomenon: relative to the TVL of hundreds of millions, the number of daily active users is not particularly outstanding. This mismatch may indicate that the average user's fund amount is large, or there is a lot of activity from contract addresses.
In community discussions, a particularly noteworthy phenomenon is the difference in attitudes towards BitlayerLabs between the Chinese and English communities. The English Twitter sphere tends to focus more on price expectations and rankings, while Chinese KOLs generally exhibit a more cautious attitude.
This cautious attitude reflects the Chinese community's vigilance towards projects with high FDV and low circulation. Over the past year, we have witnessed too many such projects experiencing price crashes after TGE, and seasoned investors have developed immunity to such patterns.
BitlayerLabs claims to have established cross-chain partnerships with mainstream blockchains such as Solana, Base, Arbitrum, and Sui. From a technical architecture standpoint, this multi-chain interoperability is indeed an inevitable trend for future development. However, we need to distinguish between genuine technical integration and superficial marketing collaborations.
@BitlayerLabs is undoubtedly one of the most watched projects in the current BTC ecosystem, showcasing a certain level of professionalism in its technical innovation and business operations. However, behind the bustling façade, we need to maintain calm judgment.
For investors, participating in BitlayerLabs requires thorough risk management preparation. This project could either become an important infrastructure for the BTC ecosystem or another case of high opening and low closing. The key lies in whether the project team can build a truly valuable ecosystem based on technological innovation. In this ever-changing cryptocurrency market, maintaining rational thought is always more important than blindly following trends!
