比特幣（BTC）第2層高管解釋了“被誇大”的敘事現在如何“完全消失”

比特幣2層高管解釋了在生態系統發展時“被誇大”的比特幣敘事如何完全消失。

An executive at a Bitcoin layer-2 firm has explained how several Bitcoin narratives that were "overhyped" have now wholly vanished as the ecosystem develops.

一家比特幣2層公司的高管解釋了隨著生態系統的發展，幾種被“誇大”的比特幣敘事如何完全消失。

In a Cointelegraph interview, Bitlayer co-founder Charlie Hu laid out three Bitcoin narratives that he believed were overhyped. This included narratives that surrounded Ordinals, layer-2s and re-staking.

Bitlayer聯合創始人查理·胡（Charlie Hu）在一次Cointelegraph採訪中闡述了他認為被誇大的三個比特幣敘述。這包括圍繞著序數，第2層和重新製作的敘述。

According to Hu, one of the overhyped narratives in Bitcoin was non-fungible tokens (NFTs). The executive told Cointelegraph that while inscriptions may have gone "to the moon," Hu said the era is "completely gone."

根據HU的說法，比特幣中的一種被誇大的敘述是不可殺死的令牌（NFTS）。高管告訴Cointelegraph，Hu說，雖然銘文可能已經“月球”，但時代“完全消失了”。

CryptoSlam data shows that in the first quarter of 2024, Bitcoin NFTs had a volume of $1.4 billion. In 2025 Q1, the volume is only at $280 million, showing an 80% drop. The executive believes that the 1,000x days of Bitcoin NFTs may be over and that people can’t expect similar "crazy" price performances anymore.

CryptoSlam數據顯示，在2024年第一季度，比特幣NFTS的數量為14億美元。在2025年第1季度，該銷量僅為2.8億美元，顯示80％的下降。高管認為，比特幣NFT的1,000倍天可能已經結束，人們不再期望類似的“瘋狂”價格表現。

Are Bitcoin layer-2s running out of steam?

比特幣2層是否用盡蒸汽？

Apart from Bitcoin NFTs, Hu told Cointelegraph that the hype around Bitcoin layer-2 and Bitcoin re-staking has also declined among venture capitalists.

除比特幣NFT外，Hu告訴Cointelegraph，Bitcoin Layer-2層和比特幣重新製作的炒作在風險投資家中也有所下降。

Hu told Cointelegraph that at least 80 layer-2 networks aimed to get funded at the beginning of 2024 when the layer-2 narrative was strong. The executive said many projects pitched their ideas to investors, the media and different communities. Hu said that while there was some hype, this was "definitely over."

Hu告訴Cointelegraph，至少80層網絡旨在在2024年初的第二層敘述強勁時獲得資金。高管說，許多項目將他們的想法推向了投資者，媒體和不同的社區。胡說，儘管有些炒作，但這“肯定已經結束”。

Many other crypto executives and entrepreneurs resonate with Hu's point of view about the dying hype around layer-2 ecosystems. On Feb. 20, Stacks co-founder Muneeb Ali said the "honeymoon phase" for Bitcoin layer-2s is over. The executive said that most projects will cease to exist as their initial excitement fades.

許多其他加密高管和企業家與HU關於第二層生態系統垂死的炒作的觀點產生了共鳴。 2月20日，Stacks聯合創始人Muneeb Ali表示，比特幣2層的“蜜月階段”已經結束。高管表示，大多數項目將不再存在，因為它們的最初興奮會消失。

Meanwhile, Hu also told Cointelegraph that a third "overhyped" narrative was Bitcoin re-staking. Hu told Cointelegraph that at the moment, there are only 2 to 3 projects still surviving after the peak of the narrative's hype phase in 2024.

同時，胡還告訴Cointelegraph，第三個“誇張的”敘述是比特幣重新製作的。胡告訴Cointelegraph，目前，在敘事階段達到2024年的高峰之後，只有2至3個項目仍然存在。

While some hyped narratives started to fade, Hu believes there are many things to look forward to in the growing Bitcoin ecosystem. The executive said that while layer-2s are a great narrative, they see it more as an engine that powers Bitcoin's decentralized finance (DeFi) ecosystem, which could allow holders to explore yield opportunities. Hu told Cointelegraph:

儘管一些大肆宣傳的敘述開始消失，但胡認為，在不斷增長的比特幣生態系統中，有很多事情值得期待。這位高管說，儘管第2層是一個很好的敘述，但他們將其視為為比特幣分散融資（DEFI）生態系統提供動力的引擎，這可以使持有人能夠探索產量機會。胡告訴Cointelegraph：

"We are still very early in the Bitcoin DeFi journey. Although there has been a significant focus on layer-2s, which are a crucial technological advancement for Bitcoin DeFi to develop, we are still in the nascent stages of realizing the full potential of Bitcoin DeFi."

“我們在比特幣Defi之旅中仍然很早。儘管人們對比特幣Defi的發展是至關重要的技術進步，但我們仍處於實現比特幣Defi的全部潛力的新生階段。”

Related: Bitcoin volatility hits 3.6% amid heightened market uncertainty

相關：由於市場不確定性增強，比特幣波動率在3.6％

Bitcoin DeFi yet to take off

比特幣Defi尚未起飛

Meanwhile, Dominik Harz, the co-founder of hybrid layer-2 Build on Bitcoin (BOB), told Cointelegraph that Bitcoin layer-2s should be seen as a long-term play.

同時，Hybrid Layer-2的聯合創始人Dominik Harz在比特幣（Bob）上建立，他告訴Cointelegraph，比特幣2層應視為長期遊戲。

"Looking at Bitcoin Layer-2s through a short-term lens misses the point. Hype cycles come and go, but lasting developments in crypto, like Bitcoin itself, are inherently long-term plays," Harz said.

哈茲說：“通過短期鏡頭看比特幣2層，這錯過了這一點。炒作週期來來去去，但是加密貨幣本身的持久發展是長期的長期遊戲。”

The executive also believes that Bitcoin DeFi has not yet reached its full potential. "Bitcoin DeFi hasn’t even really taken off yet. We’re very early. Only 0.3% of Bitcoin’s market cap is active in DeFi right now compared to 30% for Ethereum," Harz told Cointelegraph.

高管還認為，比特幣Defi尚未發揮全部潛力。 Harz告訴Cointelegraph：“比特幣Defi甚至還沒有真正起飛。我們很早。比特幣的市值中只有0.3％在DEFI中活躍起來，而以太坊的市值為30％。”

Harz pointed out this was a 100x discrepancy, saying it would decrease rapidly as Bitcoin DeFi explodes. The executive also said layer-2s are necessary technological advancements for Bitcoin DeFi to hit the market.

哈茲指出，這是100倍的差異，稱隨著比特幣Defi的爆炸，它將迅速減少。高管還說，第2層是比特幣Defi上市的必要技術進步。

Max Sanchez, the chief technology officer of layer-2 protocol Hemi Labs, also believes that Bitcoin layer-2s are not losing steam.

第2層協議Hemi Labs的首席技術官Max Sanchez還認為，比特幣2層不會失去蒸汽。

The executive told Cointelegraph that the space is entering a maturation phase where fundamentals matter. Sanchez said that many early projects in the Bitcoin layer-2 space brought technology from Ethereum without adapting it to Bitcoin's unique architecture "in a way that truly extends Bitcoin."

高管告訴Cointelegraph，該空間正在進入基本面重要的成熟階段。桑切斯說，比特幣2層空間中的許多早期項目都從以太坊帶來了技術，而沒有將其改編為比特幣獨特的建築“以真正擴展比特幣的方式”。

Sanchez, who works on a hybrid project connecting to Ethereum, also said that building a layer-2 in just one silo and forgoing interoperability with Ethereum-based protocols is a "false notion."

桑切斯（Sanchez）從事連接到以太坊的混合項目的桑切斯（Sanchez）還說，僅在一個筒倉中建立2層，並與基於以太坊的協議進行互操作性是“錯誤的概念”。