Bitcoin has seen a massive increase in price during the last few weeks. This resulted in a 144% increase over the last year. Last week it hit $44,200, a price it hadn’t seen since April 2022.
With the price increase, we also see a flourishing Bitcoin ecosystem. So, we take a closer look at the top 10 Bitcoin projects that outperformed their funding goals this year.
1) Babylon
Babylon is all about staking BTC. So, although Bitcoin is a PoW chain, Babylon offers PoS staking. You lock your BTC on the Bitcoin network. This allows you to secure PoS chains. If the speaker attempts to attack the PoS chain, there’s a slashing system in place.
There’s no need for third-party trust or bridging. Locking your BTC with Babylon is non-custodial. This allows you to validate PoS chains. The reward is in tokens of the chain you stake with. They raised $18 million.
1/ We couldn’t be more excited to announce the successful close of an $18 million funding round co-led by Polychain Capital (@polychain) and Hack VC (@hack_vc ) for the Babylon #Bitcoin Staking Protocol! https://t.co/474bZMaTx9 pic.twitter.com/mvgzfGzmke
— Babylon (@babylon_chain) December 7, 2023
2) UniSat Wallet
The UniSat Wallet allows you to not only store BTC but also ordinals and BRC20 tokens. This is important since Ordinals and BRC20 tokens are Satoshi’s with an inscription. You don’t want to accidentally send an inscribed Satoshi to somebody. These may have a high value.
It’s a comprehensive wallet with an easy-to-use UI. It’s a noncustodial and open-source wallet. Furthermore, the team is looking for $50 million in funding.
#1 UniSat Marketplace for Ordinals is now free to use!
No more service fees for these peer-to-peer transactions!
Enjoy trading! ❤️
(1/5) https://t.co/I5RgxcEFVL pic.twitter.com/VlyLTn0oSB
— UniSat Wallet – Store, Inscribe and Search. (@unisat_wallet) December 8, 2023
3) Bioniq
Bioniq makes it simpler and easier to interact with Ordinals and NFTs on the Bitcoin chain. It’s an NFT marketplace. It offers good and in-depth explanations of, for example:
- Inscriptions.
- Storage.
- Trading.
- Managing your Ordinals.
The platform transactions are fast and gasless without network fees. The wrapping of BTC/Ordinals is secure. Their funding round has not been disclosed yet.
After many months of development, we are excited to release Bioniq to the world.
Try it now at https://t.co/VXNfgqzleK.
After you sign up, give it a minute, and then check your Bioniq wallet 😁 https://t.co/YmqS4bdR8z
— bioniq (@bioniqMarket) December 1, 2023
4) Saturn
On Saturn, you can trade Satoshis. The platform uses a noncustodial orderbook for its P2P (peer-to-peer) trading. You can swap and trade safely and directly. It allows you to remain in full control of your assets.
Saturn accepts two wallets, Xverse, and the earlier-mentioned UniSat. To date, they raised $500,000 on 29th November. The lead investor for this pre-seed round was Big Brain Holdings. The picture below shows their orderbook.
Source: Saturn
5) Taproot Wizards
Taproot Wizards found inspiration in the early Bitcoin days. That’s when the Bitcoin Wizard meme was a thing. The platform minted 2121 Wizards, as a homage to 21 million BTC.
Their mission is to make Bitcoin magical again. You can create and share ‘Magic Internet JPEGs’. Standard Crypto managed to raise $7.5 million for them in a funding round. This was in mid-November 2023.
no one will remember the laser-eye podcasters 2 years from now
but the taproot wizards will be studied by on-chain archeologists many centuries into the future pic.twitter.com/EbmWz7C6hM
— Taproot Wizards (@TaprootWizards) December 10, 2023
6) Darewise
Darewise is part of Animoca Brands. That’s one of the biggest Web3 gaming companies. They are building a metaverse on the Bitcoin chain. This includes online games. For example, their ‘Life Beyond’ sci-fi game on Unreal Engine 5.
In short, this makes for stunning visuals. Their token will power their whole universe and platform after TGE. The Life Beyond Studios raised $3.5 million in a funding round.
🚀 Exciting times at Darewise! We're honored to be joining @arbitrum , @OffchainLabs and @HorizenLabs proposal for the @apecoin ApeChain as DAC member. Innovation and collaboration fuel our journey, and we're always pushing boundaries to create extraordinary experiences. 🧵 https://t.co/pPxZmPeo7P
— Darewise 🟧 (@Darewise) December 7, 2023
7) OrdinalsBot
OrdinalsBot makes it easy for you to inscribe Satoshis. As a result, they become ordinals. It’s as easy as uploading a file, as their website states. Their UI is user-friendly, and they support various file formats.
Their pricing is very competitive as well. Instead of using hours to make it work, with OrdinalsBot you can inscribe in under a minute. The team managed to raise $1 million in a seed round. The picture below shows their UI.
Source: Ordinalsbot
8) Stroom Network
Stroom Network is all about liquid staking on the Bitcoin Lightning Network. You can issue a wrapped Bitcoin, lnBTC, on Ethereum. In return, you receive yield. It keeps your Bitcoin liquid. So, you don’t need to lock up your Bitcoin or run a node, with all associated infrastructure. Greenfield Capital led a seed round and raised $3.5 million for them in late August 2023.
What is Stroom Network?
We believe that Lightning Network, which originally evolved as a way to scale Bitcoin, is a next-generation payment rail technology due to real-time settlement and horizontal scalability, which enables low fees and instant payments.
1/7 pic.twitter.com/2l1nsljmEC
— Stroom (@StroomNetwork) May 11, 2023
9) Xverse
Xverse is a Bitcoin wallet for web3. It allows you to generate NFTs on the Bitcoin chain. Explore the world of Ordinals, BRC20, Rare Sats, STX, and more on Bitcoin. It’s available as a mobile phone app and also for Chrome as a desktop version.
It supports the Ledger hardware wallet as well. Jump Crypto led a seed round for them and raised $5 million in August 2023.
NEW: Hardware support for your Ordinals and BRC-20 tokens is here!
Connect your @Ledger device today using the @XverseApp Chrome extension (version 0.14.0). Here’s our complete guide – read carefully.👇 pic.twitter.com/Y8ED3rO6N8
— Xverse – Bitcoin Wallet for Web3 (@xverseApp) July 26, 2023
10) Sovryn
Sovryn lets you lend and borrow on the Bitcoin chain. It brings DeFi into the Bitcoin realm. You can get low-interest loans on margin.
Use their Bitcoin-backed stablecoin Sovryn Dollar (DLLR). In October 2022, General Catalyst raised $5.4 million in a funding round. Here’s a short video explanation of Sovryn.
Trading vol spike! From 1000 trades a week on average, we jumped to 2,000 trades last week! A 100% jump. The bull is coming, and begins to run.
Decentralized finance: fast, simple and keeps the user in control.
Trade easily and with no KYC ⬇️https://t.co/GHJBnwy6iE pic.twitter.com/LhckPlJm4m
— Sovryn | DeFi for Bitcoin (@SovrynBTC) December 11, 2023
Conclusion
Bitcoin is gearing up for a rally and a bull market. So, we looked at 10 up-and-coming projects in the Bitcoin ecosystem. They managed to get good funding for their projects. So, something to keep an eye out for.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.
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