2025-12-26 19:22:04

As we approach the end of 2025, the enthusiasm for the Bitcoin ecosystem has clearly taken a step up. Recently, the industry’s focus has been mainly on three areas, each signaling various developments.

First, regarding Layer 2 networks. Merlin Chain, launched by the Bitmap Tech team, completed its mainnet deployment last year, and the DeFi activities within its ecosystem are increasing. Avalon Finance, Bedrock DeFi, and Babylon Labs have jointly introduced a mechanism offering 3x points to uniBTC stakers, while Surf Protocol’s weekly trading volume has surged to $30.55 million, with daily active traders maintaining around 2,252, indicating active on-chain usage. Another development comes from BEVM, invested in by Bitmain, a BTC L2 compatible with EVM, which went live last March and has now accumulated over 700,000 on-chain addresses with more than 30 projects within its ecosystem. Interestingly, BEVM’s goal is quite clear—bringing 10% of BTC into Layer 2. Stacks is also gearing up for a major move; its Nakamoto hard fork is set to activate in December (block height 864864 confirmed), preparing for sBTC and faster block production.

The popularity of Ordinals and Runes has also been warming up recently. Since September, leading Ordinals collections have seen collective price increases: Bitcoin Puppets broke through 0.11 BTC, Quantum Cats reached 0.236 BTC, and Node Monkeys stood at 0.145 BTC, indicating liquidity is flowing back into this sector. The market cap of Runes’ leading token DOG has returned to around $300 million (price at 0.003 USDT), boosting overall interest in the Runes sector. The billion-dollar cat NFT project BDC once surged 26% in a single day, becoming a hot topic in the community. As for BRC-20 tokens, ORDI, SATS, and RATS have experienced daily breakthroughs, with a total market cap of about $1.78 billion, returning to the high range seen earlier this year.

On a macro level, institutional participation is also increasing. The second Bitcoin MENA 2025 conference is scheduled for December 8-9 at the Abu Dhabi National Exhibition Centre, with a significantly larger scale than last year. The timing closely follows the Formula 1 Grand Prix, seen as a key window for Middle Eastern capital to connect with the BTC ecosystem. More substantial news includes BNY Mellon being confirmed by Bloomberg to soon launch custody services for physically-backed Bitcoin ETFs, indicating that traditional financial capital is gradually opening the floodgates from late 2025 into early 2026.

BTC0.33%

MERL-4.75%

STX3.39%

SBTC0.14%

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NotFinancialAdvice

· 5h ago

Yeah, this wave is indeed impressive. The L2 ecosystem is taking off, and institutions are following suit. --- Quantum Cats are already at 0.236? I'm still debating whether to jump in. --- That news about BNY Mellon is really a bombshell, traditional finance is truly coming. --- BEVM aiming for 10% of BTC is a bit ambitious. Can they pull it off? --- DOG back to 300 million, wow, the runes haven't cooled down yet. --- The end-of-year pace feels much more exciting than at the beginning of the year. --- But do these L2 solutions really have genuine demand, or is it just another round of hype? --- Bitcoin Puppets rising to 0.11 is indeed outrageous. Is NFT making a comeback? --- The expansion of that Middle Eastern conference seems to carry significant meaning. --- BRC-20 back to high levels again. Can ORDI still follow the trend? --- The Nakamoto fork of Stacks at this timing is quite interesting.

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ArbitrageBot

· 5h ago

Wow, I’ve seen the recent resurgence of Ordinals and Runes coming for a while now. BNY Mellon custody of spot ETFs? Traditional finance is finally dropping the pretense. With Merlin and BEVM launching simultaneously, is the BTC L2 sector really about to take off? Quantum Cats reaching 0.236 BTC is a bit exaggerated; is this the opportunity to buy the dip? The clear signal of institutional entry—are retail investors still jumping on? Uh… I mean, this is a rare opportunity. DOG returning to a market cap of 300 million indicates that Runes still have vitality, but how long it can last is uncertain. Stacks’ Nakamoto fork activation this time means sBTC is probably officially launching, right? Will Middle Eastern funds really flow in, or is this just another hype? Bitcoin MENA expanding, with F1 events following—this is the big picture being laid out. I’m optimistic about BTC L2, but entering at this point feels like taking on the role of a bagholder? Still debating…

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GasFeeSurvivor

· 5h ago

Haha, Quantum Cats 0.236 takes off directly, this rhythm is quite something BNY Mellon’s move is really a sign that big institutions are finally willing to enter the market Wait, BEVM is going to absorb 10% of BTC? That’s a pretty big ambition The triple points mechanism on Merlin feels a bit crazy; it should have been played like this a long time ago DOG returning to 300 million feels like a real signal of recovery, everything else is just虚的 With so much competition on Layer 2, there must be a winner in the ecosystem I didn’t dare to think about the timing of Bitcoin MENA, just followed the F1 race... After the hard fork activation of Stacks, should we pay attention to sBTC’s movements? It’s a bit outrageous that Ordinals and Runes are increasing in price together I didn’t have BDC when it surged 26% in a single day, that’s crypto for you BEVM has grown to 700,000 addresses from March until now, the growth rate is pretty good

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ser_we_are_early

· 5h ago

Damn, Quantum Cats is already at 0.236? I bought it last year and it's still lying at the floor price. The rhythm of the BTC ecosystem is really here; even L2s are starting to take off. Institutional entry + traditional finance opening up, is the next wave about to break the sky? That 10% target for BEVM sounds exaggerated; who dares to imagine it can really be achieved? By the way, why is DOG still hovering around a 300 million market cap? It should have broken a billion long ago.

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WhaleWatcher

· 5h ago

The institutional entry this time is really different. BNY Mellon is handling custody for spot ETFs, traditional finance is really coming. --- Merlin, BEVM, and Stacks are all moving forward. Is the L2 ecosystem about to take off? --- Ordinals have surged to this extent, Bitcoin Puppets have broken 0.11, no wonder everyone is bottom-fishing for runes. --- BRC-20 has returned to its early-year high, ORDI, SATS, and RATS are quite aggressive this wave. --- Middle Eastern funds are about to enter the market. The December meeting feels like a turning point. --- Weekly trading volume is $30.55 million, with 2,252 daily active users. It seems the actual user data for L2 is quite promising. --- Over 700,000 on-chain addresses. The growth rate of BEVM data is impressive. --- Runes leader DOG has returned to a $300 million market cap. This sector might really be rebounding.

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AirdropHunterXiao

· 5h ago

Wait, Quantum Cats already has 0.236 BTC? I bought it last year at the Satoshi level, and this increase is a bit outrageous. With Merlin and BEVM launching simultaneously, it feels like BTC L2 is really about to take off. BNY Mellon’s move is crucial; traditional funds are really coming in. DOG is pushing back to 300 million, and the runes still have stories to tell. Are Middle Eastern funds coming to take over? Feeling a bit anxious.

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