Crypto expert Alexei Zamyatkin suggests that Bitcoin DeFi could surpass Ethereum and Solana if a user-friendly suite of products is launched on the Bitcoin network to attract its 300 million users.
Build on Bitcoin, a firm offering a hybrid layer 2 solution, aims to capitalize on Bitcoin's security and Ethereum DeFi capabilities to strengthen the Bitcoin DeFi ecosystem.
The demand for Bitcoin-based DeFi offerings is being driven by the high yield and stablecoin products, with Bitcoin staking becoming a popular DeFi use case outside of payments.
Despite the increasing interest in Bitcoin DeFi protocols, the Total Value Locked (TVL) is still lower compared to Ethereum, but the rise in Bitcoin-based DeFi activity is seen as a positive indicator for BTC price growth.