Analysis Crypto by Thebittimes.Com

Author: Lao Bai Original Link: https://x.com/Wuhuoqiu/status/1826149606876705007 Using the launch of Babylon and the opening of Lorenzo staking as a starting point, let’s discuss the recent developments in the BTC ecosystem. Since Ordi sparked interest in the BTC ecosystem, BTC has quickly followed the path that Ethereum (ETH) once took — starting with on-chain assets (like ERC20), moving to scaling solutions (such as Rollups), and now entering the realm of Staking/Restaking. However, unlike Ethereum, which has the steady guidance of the Ethereum Foundation and Vitalik Buterin, the BTC ecosystem is in a state of wild, often chaotic experimentation. The Rise of On-Chain Assets The asset side first saw the rise of Ordinals, followed by a proliferation of various “XX20” standards like BRC20, ARC20, SRC20, and ORC20, with new ones appearing at a rapid pace. Many people were optimistic last year, thinking that BTC’s security model might finally be solved — hoping that in 20–30 years, after...

Bitcoin recovered slightly more than 1% during the US session to trade at $19,544. The BTC/USD pair opened the day at $19,266 and has since fluctuated between $19,444 and $19,168. One of the reasons for the recent slowdown in BTC's upward movement can be linked to its latest fundamentals. On October 17, mining a block of bitcoin (BTC) took nearly an hour, delaying the confirmation of hundreds of transactions. Bitcoin Produces No Blocks for Hours According to on-chain statistics from various block explorers, the time difference between the two most recent blocks mined by Foundry USA and Luxor was 85 minutes. According to Mempool, over 13,000 transactions were pending before the recent block mining. Furthermore, Bitcoin had to make a difficult adjustment last week to ensure that block confirmations continued to occur every 10 minutes.  It now costs more to mine bitcoin because the mining difficulty has risen to 35.6 trillion, putting pressure ...