Bitcoin's blockchain is slowly becoming more than just a buy-and-hold platform.
Ethereum underwent a similar trend, leading to its massive rally in 2021, Bitget CEO Gracy Chen told Business Insider.
Advertisement"The Ordinals protocol enabled the growth of memecoins on the bitcoin blockchain, leading to a surge in liquidity within the BTC ecosystem in record time.
That's based on the Total Value Locked, or the amount of assets staked on the bitcoin protocol.
However, even a twofold weaker surge could still result in a fivefold increase in the leading cryptocurrency's value," Chen wrote in a note.
Persons:
Gracy Chen, —, Chen, That's, ethereum, Mining Brian Wright, there's
Organizations:
Ethereum, Service, BTC, ETH, cryptominers, Mining, Galaxy
Locations:
memecoins, bitcoin