While BTCFI is taking off, Global Crypto Exchange OKX XBTC launches on the SII network. XBTC is a new BTC asset that lives on the chain, but is directly beaten from the OKX grant. It combines CEFI security with Defi -access and it is one of only three chains that have been selected for the debut.
The most important step comes when Bitcoin just fluctuates a 3% shortage compared to his high (ATH) of $ 109k. The price of BTC has risen by more than 21% over the past 30 days, indicating that more investors jump in. However, the fear and greed in fears and greed flashes “greed” sentiment among traders.
OKX reveals XBTC on sui
Bitcoin holders now have more ways than ever to go onchain, and Sui quickly becomes a BTCFI force pattern. With the total bitcoin total value locked (TVL) climbing, XBTC is expected to lead adoption and liquidity. Data from Defillama shows that TVL has been in Defi $ 2.11 billion. Sui was chosen because of his fast, scalable and all the construction of a serious BTCFI infrastructure. With this movement, OKX indicates that it is not just a layer of 1 and is a rising hub for Bitcoin-supported Defi.
Two important protocols, Cetus and Navi, are exclusive launch partners for XBTC on the first day. XBTC is hit directly on OKX and has been withdrawn as a native assets. This makes it easier for users to bridge Bitcoin in Defi without awkward wraps or external trust models. It opens new liquidity games and reward strategies for BTC holders.
Jason Lau, Chief Innovation Officer at OKX, stated that “our unique advantage as one of the most reliable and transparent settings penetrates XBTC with a powerful security model.”
More than 10% of Sui TVL has now been supported by BTC
Almost 600 Bitcoin have been flowed in Sui since February, suggesting that Bitcoin holders are flows to this fast-growing layer 1 to drill Defi chances safely and efficiently. BTC-supported assets now make up more than 10% of the total value of SUI locked (TVL), and that number continues to climb.
XBTC agrees with a strong arrangement of BTC -based tokens, such as WBTC, LBTC and SBTC. Each is actively supplied with unique guardianship models and Defi integrations. Christian Thompson, director of the Sui Foundation, says: “Bitcoin Defi about Sui has gone from an intriguing concept to the evidence of full product market that fits in a matter of months.” He added: “OKX chooses to bring XBTC to Sui, who speaks to the robustness” from the BTCFI ecosystem.
The SUI BTCFI ecosystem has also put on projects such as Stacks, Lombard, Babylon, Cubist, Satlayer and Redstone. It has created a lively hub where Bitcoin holders can let their BTC work in several ways. XBTC can prove to be a large use for traders because it does not charge mint or repayment costs. The only costs are minimal gas costs on the network.
