Bitcoin Market Analysis
Bitcoin has risen again over the past two weeks, with prices stabilizing around $97,000:
Arthur Hayes made a bold prediction at the Dubai Token 2049 Summit: BTC will exceed $1 million in 2028, and predicted in his recent article " Ski Cut " that when Bitcoin breaks through $110,000, the market will usher in the altcoin season.
Glassnode Insights analysis shows that the recent market decline has squeezed the speculative bubble, and Bitcoin is trying to break through the 111-day moving average ($91,300) and the short-term holder cost line ($93,200). Long-term holders still hold a large number of loss-making positions in the 95,000-98,000 price range. Some investors may sell near the cost price to form additional seller resistance. It is expected that the long-term holders will increase their selling volume, forming an important resistance level.
BTCFi Investment Opportunities
The total locked value of Bitcoin DeFi continues to grow, from US$4 billion (April 25) to US$6 billion (May 2), and the weekly DEX trading volume increased by 7.5% to US$5.8 million.
Major development of ecology
Stacks
Stacks is the leading Layer 2 solution for activating the Bitcoin economy. sBTC inherits the security of the Bitcoin network and provides the infrastructure for users to explore BTCFi ecosystem profit opportunities.
sBTC connected to Sui Chain: Stacks founder Muneeb announced at the Sui Dubai Summit that sBTC will expand the BTCFi map with Sui as the starting point. Mysten Labs co-founder Adeniyi Abiodun commented : "sBTC activates Bitcoin liquidity in a decentralized manner and realizes the full ecosystem Bitcoin DeFi unlocking under the Stacks signer security framework."
sBTC mainnet withdrawal function is online: starting from April 30, users can convert sBTC on the Stacks network into native Bitcoin on the Bitcoin mainnet, enhancing liquidity and market efficiency. Click to view the sBTC withdrawal operation guide.
Accelerating Asian layout: Stacks Asia Foundation has been certified by Abu Dhabi Global Market (ADGM), becoming the first Bitcoin ecosystem compliance entity. Combined with the existing regulatory license of the US SEC, it builds a global trust framework and promotes Bitcoin DeFi education and policy advocacy with Hong Kong as the hub.
Industry voice exploded: During the Token 2049 Dubai Summit, Stacks occupied the industry spotlight through multiple thought leadership activities. In his keynote speech, founder Muneeb introduced the breakthrough progress of sBTC - this technology will enable the underlying BTC to achieve complete self-custody. In addition, Muneeb also reiterated that Bitcoin L2 such as Stacks will achieve one billion users.
Institutional support upgrade: BitGo announced that it will provide institutional-grade custody support for sBTC, and Binance, OKX, and Crypto.com launched STX staking services.
Muneeb firmly believes that this is the highlight moment of the Bitcoin ecosystem
Source: Stacks
Stacks DeFi
USDh stablecoin supply hits all-time high ($5.63 million): USDh stakers earn 9% APY, Hermetica 2.0 adds transparent dashboard and real-time APY tracking. These upgrades create an institutional-grade experience for the most trusted stablecoin in the BTCFi ecosystem. Click here to view the latest audit report on the USDh custodian's proof of assets
Zest Protocol absorbs nearly 500 sBTC (15% of total supply): Zest is competing with leading lending protocols such as Ethereum L2 and Solana for the top spot in Bitcoin supply. Liquid staking tokens (such as stSTX) have surged in demand as collateral, and their supply has increased by 10% week-on-week to 16.5 million.
Stacking DAO's total locked value hit a new high: more than 70 million STX participated in staking, and migration to the new stSTX-STX pool can get 10%+APY stacking rewards. The number of Twitter followers increased by more than 80,000 in the past year, and the main users came from South Korea, America and Europe.
USDh supply hits all-time high
Source: Hermetica dashboard
Stacks Ecological Panorama
Source: Stacks
CoreDAO
As a BTCFi ecosystem that ranks high in total locked value, CoreDAO is building the infrastructure layer of Bitcoin on-chain finance, covering staking services, structured products, institutional access and other services.
Maple Finance is gaining momentum: Maple BTC revenue hits record in April, with over 1,600 Bitcoins staked through CoreDAO and earning 5.6% BTC net APY
Staking volume surges: The current network staked CORE token volume exceeds 210 million, an increase of 25%+ from the beginning of March
Babylon
Babylon is a leading project in the Bitcoin re-staking sector, and it ranks first in the industry with a total locked-in value of nearly US$5 billion.
Public staking is fully open: the limit of "staking only" in the first phase is cancelled, and the BTC staking channel is open to all users
Institutional Channel Open: Anchorage Digital Users Can Now Participate in Babylon Genesis Mainnet Bitcoin Staking Through Its Platform
