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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=

Overview of the Public Chain Market in November 2024 In November 2024, the blockchain industry welcomes a "bull market" trend. Bitcoin's price continues to reach new historical highs, about to break the important $100,000 mark, with a market value surpassing silver and other major traditional assets. Meanwhile, Ethereum has also achieved a strong recovery, and altcoins have rebounded significantly. While Bitcoin Layer 2 maintains strong growth, Ethereum Layer 2 faces increasingly fierce competition, with relatively moderate growth. Market Overview In November, the cryptocurrency market made history, with Bitcoin soaring from $69,386 to $96,427, an increase of 39.0%. Ethereum followed closely behind, rising by 47.8%, from $2,511 to $3,711. Bitcoin's outstanding performance elevated its market capitalization beyond that of silver and Saudi Aramco, firmly establishing it as the seventh-largest global asset after nearing the $100,000 mark on November 23. U.S. elections

As competition in the BTCFi market intensifies, especially in the areas of BTC (re) staking and BTC pegged assets, various platforms are adopting diversified strategies to capture market share. Platforms like Lombard Finance are experiencing rapid growth through ecosystem cooperation and multi-chain expansion, while Pendle and new entrants like SatLayer are also entering the competition. WBTC still dominates, but faces challenges from emerging assets, and trust issues remain critical.

This article analyzes the key growth strategies of the BTCFi ecosystem, mainly including enhancing user engagement through the absorption of BTC-backed assets, building diversified Decentralized Finance applications, and providing incentives. The differentiated strategies of different networks drive the continuous innovation and development of the ecosystem.

Solv Protocol: Exploring the staking abstraction layer and liquidity mechanism in the BTCFi ecosystem Introduction Solv Protocol was established in 2020 with the aim of lowering the barriers to creating and using on-chain financial tools, bringing a diversified asset class and yield opportunities to the crypto space. The project focuses on minting and trading NFTs related to financial ownership certificates. In 2024, with the development of the BTCFi track, Solv Protocol will shift its focus to BTCFi, creating the SolvBTC asset for full-chain yield in Bitcoin, providing new opportunities for Bitcoin holders while establishing an efficient BTCFi ecosystem. Recently, Solv