U.S. 4-week Treasury auction bid-to-cover ratio as of July 22

Bitcoin Ecosystem and Inscriptions: How Old Projects Revitalize The strong rise of Bitcoin and the vigorous development of the inscription ecosystem constitute the main narrative in the cryptocurrency space this year. The rise in Bitcoin's price is attributed to multiple factors, including the prosperity of the on-chain ecosystem, the potential approval of spot ETFs, the upcoming halving event, and the possible interest rate cuts by the Federal Reserve. At the same time, the massive entry of institutional investors has also provided a significant boost to Bitcoin, and these factors have collectively contributed to Bitcoin's remarkable growth this year. The inscription ecosystem, especially represented by Ordinals, has injected new vitality and focus into the Bitcoin ecosystem, and has also spread its influence to other public chains. Almost all mainstream public chains have developed corresponding inscription applications, and many existing projects have also seized this opportunity to rejuvenate. Bounce: Auction as a Service and Laye

The rapid advancement of Bitcoin and its inscription ecosystem has attracted market attention, with institutional investors and NFT projects like Ordinals bringing new vitality. Bounce Finance has launched diversified auctions, Uniswap has expanded to the Bitcoin sidechains Rootstock, Magic Eden has entered the NFT market, Nostr combines social networking with micropayments, ALEX is developing a BRC20 exchange, and inscription technology is impacting major public chains, showcasing innovative development trends.

In 2023, the Bitcoin ecosystem is thriving, with the boom of inscriptions and NFTs driving innovation. Projects like Bounce, Uniswap, and Magic Eden are actively expanding, combining Decentralization with payment functionalities. Inscriptions technology is extending across multiple chains, bringing new opportunities and risks. Meanwhile, institutional investments are helping Bitcoin prices rise, and the ecosystem's diversification is continuously deepening.

Recently, the rise in Bitcoin prices and the development of the inscription ecosystem have attracted attention, with projects like Bounce, Uniswap, Magic Eden, and Nostr actively participating, driving innovation and vitality in the Bitcoin ecosystem. Major public chains are also continuously expanding inscription technology, demonstrating new trends in the crypto market and the revival of old projects.

In 2023, the Bitcoin ecosystem and the inscription market are thriving, driven by the entry of institutional investors and the prosperity of the on-chain ecosystem, which has pushed the price of Bitcoin to rise. Several established projects such as Bounce, Uniswap, and Magic Eden are innovating within the Bitcoin ecosystem, showcasing new business models and development potential. The widespread application of inscription technology on public chains has also sparked discussions about its significance and security.