Russia's Central Bank gold and forex reserves as of the week of November 7

Latest Daily Report is ready! Bitcoin Rebounds 3.5%, Ethereum Weakens, Dinari and Pell Network TVL Surge 🔥 Read More 👇 https://www.gate.io/learn/articles/gate-research-bitcoin-rebounds-3-5-ethereum-lags-dinari-and-pell-network-tvl-soar/3617?ch=GDR_bn_20240726&utm_campaign=TR_QlwFqOHA&utm_content=&utm_medium=CPM&utm_source=CH_L2b1FOrO&utm_term=

#PELL# waiting for drop to zero, anyway there isn't much left.

Recently, with the launch of new platforms, the competition in the BTC(re) staking and BTC-pegged asset market has intensified. Lombard Finance has rapidly risen with the cooperation of the ETH ecosystem, while emerging players like Pendle and SatLayer are also actively positioning themselves. The competition for wrapped BTC assets is fierce, with WBTC's market share continuously declining, and all parties are striving for greater influence in the Decentralized Finance space.

In November 2024, the blockchain industry will experience a bull run, with Bitcoin and Ethereum both significantly rising, and Bitcoin approaching the $100,000 mark. Both Layer 1 and Layer 2 solutions are performing strongly, with a significant rise in TVL in the Decentralized Finance sector, while the number of blockchain games is increasing. Financing conditions have declined, but remain active. The overall market reaction is positive, indicating future rise potential.

The Rise of the BTCFi Ecosystem: Bitcoin's New Role in Decentralized Finance Bitcoin is undergoing a significant transformation in its position within the Decentralized Finance ( DeFi ) space. Initially merely a peer-to-peer transfer tool, this world's first cryptocurrency is now rising as a powerful force in the DeFi sector, beginning to challenge Ethereum's long-standing dominance. By analyzing on-chain data, we can clearly see the current status and growth trajectory of the BTCFi( ecosystem, which combines Bitcoin and Decentralized Finance (DeFi) ). This is not just a technological revolution; it may also trigger a paradigm shift in the role of Bitcoin within DeFi, redefining the landscape of the entire DeFi sector. The Rise of BTCFi In 2008, Satoshi Nakamoto created Bitcoin, initially designed as a peer-to-peer electronic cash system. Although this architecture has revolutionary significance in the field of crypto assets, it is more complex in finance.