The market for Bitcoin L2s could meet and exceed Ethereum L2s with continued development, according to Stacks’ product lead.
Bitcoin decentralized finance (DeFi) will make Bitcoin (BTC) a more versatile asset with yield-generating capabilities, Andre Serrano, product and partnership manager at Stacks, told Cointelegraph in an exclusive interview:
Bitcoin-native DeFi, or BTCFi, is a recent development seeking to bring DeFi capabilities to the world’s first blockchain network. With the current pace of adoption and development, the market for Bitcoin layer-2 networks could overtake the market for Ethereum layer-2s, according to Serrano:
Serrano’s predictions come days ahead of the anticipated Bitcoin halving, as Bitcoin was trading above the $63,500 mark as of 8:30 am UTC, following a 7.9% weekly decline, according to data from CoinMarketCap.