What happened?
Bitcoin’s financial layer is lagging compared to Ethereum, as evidenced by their respective total value locked (TVL), with Ethereum holding $64.6 billion and Bitcoin $7.39 billion. The newly designed Bitcoin Hyper aims to bridge this gap as it leverages Solana’s efficiency and Bitcoin’s security to optimise programmability and scalability on the Bitcoin blockchain. The project has already raised $16 million in presale funding in just three months.
Who does this affect?
This development impacts investors, particularly those interested in technological advancements within the cryptocurrency market and blockchain capabilities. Current presale round offers HYPER priced at $0.012925 per token for a limited time. It also affects developers looking to build applications that require speed, security, and scalability, as Bitcoin Hyper offers a fast Bitcoin Layer-2 solution.
Why does this matter?
The innovation represented by Bitcoin Hyper could significantly impact the cryptocurrency market, particularly the DeFi space. If successful, Bitcoin Hyper could bring new scalability and programmability to Bitcoin, unlocking its dormant potential. This could shift the balance in the ongoing competition between Bitcoin and Ethereum, ultimately broadening the scope for DeFi applications and potentially influencing market trends.