and BRC-20, the Bitcoin network is seeing an influx of major developments that have unlocked BTCFi — DeFi using Bitcoin as its primary asset. This has brought new capabilities to a network traditionally known for its transactional simplicity, with the total market cap of BRC-20 tokens alone reaching.
These advancements significantly benefited from the development of ckBTC, a digital counterpart of Bitcoin pegged on a 1:1 basis with BTC on the ICP network. As a result, transaction activity for ckBTC has soared, with more than a million transactions recorded in December, amounting to more thanof several Bitcoin ETFs in January by the Security and Exchange Commission .
But this year, miners of any size from other parts of the world have additional funding options to upgrade their operations. They can utilize the upcoming Loka's permissionless marketplace, which can connect miners directly to retail investors looking for BTC at lower-than-market prices. This creates a two-sided marketplace. On the supply side, Bitcoin miners provide future hashrate. On the demand side, retail investors — looking for more cost-efficient access to Bitcoin — provide liquidity.
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