🤔 What does everyone actually mean when they talk about the "BTC ecosystem"? I've tried breaking the Bitcoin ecosystem down into 6 key scenarios. The full English article is in the second half of the tweet. 1️⃣ Minting "Firsts" on New Protocols This refers to the process where developers launch new on-chain asset protocols on Bitcoin, and players mint and speculate on the "first" assets issued under these new protocols. This trend started in the #BRC-20 era, continued through protocols like #ATOM and #Runes, and has extended this year to #op20 and the recently popular #Alkanes. In fact, the rise of any new protocol always first goes through this "initial minting hype" phase. On the other hand, under BTC's UTXO structure, any new protocol with even a slight innovation has a high chance of becoming a hot trend. If managed well, it can create a temporary wealth effect (devs have the opportunity for both fame and fortune, while for players, the cost is low and the potential for explosive gains is high). Especially with the high probability that the byte limit for OP_RETURN will be relaxed today, new protocols on the BTC chain will spring up like mushrooms in the foreseeable future. Therefore, this track will likely be a favorite for players looking for high-leverage "small bet, big win" opportunities. P.S. The downside is poor exit liquidity later on. 2️⃣ OG Runes, Launchpads, and New Runes of the Bitcoin 2.0 Era The Runes protocol is currently the only one that has stood the test of time, competing against numerous new asset protocols in 2024 to emerge and thrive. That's why genuine community memecoins have all adopted the Runes standard, such as $DOG, $BDC, and $RSIC. Even communities that previously chose BRC-20, like Magic Eden's Wizards and the $PUPS community, have also migrated to the Runes standard. Consequently, the hottest trend surrounding Runes for 2024/2025 is the various launchpads that possess wealth-creation effects, like @Odin_GodOfRunes, @BlockMinerfun, and @tyche_run. 3️⃣ Utility Tokens These are the native platform tokens of DeFi applications built for new Bitcoin assets. When @LiquidiumWTF nearly doubled in price, countless people were kicking themselves in regret. Currently, @RichSwap_REE's platform token, HOPE•YOU•GET•RICH, is showing similar potential with its recent steady rise. 🌟 Will OdinFun launch a token? Will Tyche? 🌟 What other Runes DEXs are planning to launch tokens? Therefore, keeping an eye on the platform tokens of BTCFi applications is another important and highly actionable scene. 4️⃣ The Payments Track This track, focused on BTC payments, #PayFi, and #stablecoins, is represented by projects like the Lightning Network and @buildonspark, aiming to fulfill the payment vision from Satoshi's whitepaper. 5️⃣ BTC Yield-Bearing Projects This area is dominated by blue-chip, "heavenly king" level projects. Although a wave of them have already had their TGEs, I believe more will continue to emerge. When new projects in this space do appear, they are bound to be top-tier and will likely be generous with rewards—otherwise, who would risk their large BTC holdings? Of course, one must still be wary of potential traps. 6️⃣ Ordinals NFTs This is a track deeply imbued with Bitcoin culture, and it's bound to heat up again sooner or later. Moreover, I've been consistently waiting for an innovation that combines Ordinals NFTs with Runes. --- The Bitcoin ecosystem is actually very lively; it just needs other high-speed smart contract chains to test the market thoroughly before the value settles back on the Bitcoin chain. That's all.