2024年的比特币生态系统：遗憾的一年

2024年即将结束，加密领域的人都有自己的年终总结：一是看看今年的投资回报是否跑赢了市场

2024 is coming to an end, and people in the crypto space are making their year-end summaries. For some, it's about checking if their investment returns this year have outperformed the market (just a reminder, BTC has risen over 130% this year), and for others, it's about summarizing the development of the sectors/ecosystems they are concerned about over the past year.

2024 年即将结束，加密领域的人们正在进行年终总结。对于一些人来说，这是为了检查他们今年的投资回报是否跑赢了市场（只是提醒一下，今年BTC已经上涨了130%以上），对于另一些人来说，这是为了总结他们所关心的行业/生态系统的发展情况过去的一年。

The Solana ecosystem, Base ecosystem, TON ecosystem, and AI Agent sector have all had their shining moments this year. But for the Bitcoin ecosystem, although many things have happened this year, including ecological infrastructure and application innovation, it has not yet met the expectations people had at the beginning of 2024.

Solana 生态、Base 生态、TON 生态、AI Agent 板块在今年都迎来了辉煌时刻。但对于比特币生态来说，虽然今年发生了很多事情，包括生态基础设施和应用创新，但尚未达到人们在 2024 年初的预期。

As a result, some have summarized this year’s silence in the Bitcoin ecosystem as a "failure," while others, steadfast OGs of the ecosystem, continue to choose to "believe." And as an ordinary player in the Bitcoin ecosystem from the beginning, I choose to conclude this year with the word "regret."

因此，一些人将比特币生态系统今年的沉默总结为“失败”，而另一些人，作为生态系统坚定的OG，则继续选择“相信”。而作为一个从一开始就在比特币生态中的普通玩家，我选择用“遗憾”二字来结束这一年。

2024 Actually Has a Good Start

2024年其实有一个好的开始

2024 actually has a good start for the Bitcoin ecosystem. At the beginning of the year, people held expectations for the Bitcoin ecosystem, believing that 2024 would be the year of its complete explosion and entry into the mainstream, much like the current belief that 2025 will be the year of the AI Agent ecosystem's explosion.

2024 年对于比特币生态系统来说实际上是一个良好的开端。年初，人们对比特币生态抱有期待，认为2024年将是其全面爆发并进入主流的一年，就像目前认为2025年将是AI Agent生态爆发的一年一样。

Why did we have such high expectations for the development of the Bitcoin ecosystem in 2024? Perhaps it is because since the birth of the Ordinals protocol in December 2022, the Bitcoin ecosystem has undergone a year of growth and consensus-building, transitioning from the "barbaric era" to the "industrial era." Project teams, VCs, and mainstream exchanges have all entered the space, forming three main tracks: asset issuance protocols, L2, and Bitcoin staking.

为什么我们对2024年比特币生态的发展抱有如此高的期望？或许是因为自2022年12月Ordinals协议诞生以来，比特币生态系统经历了一年的成长和共识构建，从“野蛮时代”过渡到“工业时代”。项目方、VC、主流交易所纷纷入局，形成资产发行协议、L2、比特币质押三大赛道。

From the perspective of asset issuance protocols, influenced by Binance's launch of BRC 20 tokens ORDI and SATS spot trading at the end of 2023, the concept of inscriptions became popular again at the beginning of 2024. Not only did this heat inspire other chains to follow suit and start their own inscription modes, but it also drove up the tokens of other asset protocols such as ARC 20, SRC 20, PIPE, etc. Meanwhile, the rune pre-mining and airdrop play initiated by RSIC and Runestone in January 2024 also filled people with anticipation for the upcoming Runes protocol.

从资产发行协议的角度来看，受币安在2023年底推出BRC 20代币ORDI和SATS现货交易的影响，铭文概念在2024年初再次流行。这种热度不仅激发了其他链的效仿纷纷迎合并开启了自己的铭文模式，同时也带动了ARC 20、SRC 20、PIPE等其他资产协议的代币上涨。 2024年1月RSIC和符石发起的预挖和空投玩法也让人们对即将到来的符文协议充满了期待。

From the development of L2, Bitcoin L2 experienced explosive growth at the beginning of 2024. With the hot asset issuance and trading, the congestion issues on the Bitcoin mainnet and players' demand for increased playability of mainnet assets made Bitcoin L2 a popular entrepreneurial direction. By early 2024, it was reported that over 100 Bitcoin L2 projects had emerged in a short period. Although many of these projects were poorly constructed and aimed at "making a quick profit," overall, domestic and foreign VCs began to invest heavily in Bitcoin L2, hoping that Bitcoin L2 could replicate the glory of the Ethereum L2 ecosystem in 2024.

从L2的发展来看，比特币L2在2024年初经历了爆发式增长。随着资产发行和交易的火热，比特币主网的拥堵问题以及玩家对主网资产可玩性增强的需求，使得比特币L2成为热门的创业方向。据报道，到 2024 年初，短时间内出现了 100 多个比特币 L2 项目。尽管其中不少项目建设较差，目的是“快速盈利”，但总体而言，国内外VC开始大力投资比特币L2，希望比特币L2能够在2024年复制以太坊L2生态的辉煌。

69 Bitcoin L2 projects summarized by @Bitvmclub in March 2024

@Bitvmclub 于 2024 年 3 月总结的 69 个比特币 L2 项目

In terms of Bitcoin staking, the Bitcoin staking protocol Babylon announced in December 2023 that it had completed a $18 million financing round, officially kicking off the narrative of Bitcoin staking and re-staking. With the Ethereum ecosystem's top-tier project EigenLayer as a model for re-staking narratives, people believe that with Bitcoin's stronger consensus foundation and security compared to Ethereum, the prospects for Bitcoin staking and re-staking in 2024 will be very broad. This will not only awaken dormant Bitcoin whales to participate in the Bitcoin ecosystem but also form a re-staking ecosystem comparable to Ethereum's.

在比特币质押方面，比特币质押协议Babylon于2023年12月宣布完成1800万美元融资，正式拉开了比特币质押和再质押的序幕。以以太坊生态系统的顶级项目 EigenLayer 作为重新质押叙事的典范，人们相信，凭借比特币比以太坊更强的共识基础和安全性，2024 年比特币质押和重新质押的前景将非常广阔。这不仅会唤醒休眠的比特币鲸鱼参与比特币生态系统，而且会形成一个可与以太坊相媲美的重新抵押生态系统。

In addition to the overall positive trends exhibited by the three main tracks at the beginning of 2024, the general infrastructure of the Bitcoin ecosystem (such as wallets, cross-chain bridges, and trading markets) has also gradually improved during this period. Unisat and OKX Wallet have technically supported multiple asset protocols, becoming major wallets and trading markets in the Bitcoin ecosystem.

除了2024年初三大主赛道呈现出的整体积极趋势外，比特币生态系统的整体基础设施（如钱包、跨链桥、交易市场）也在这一时期逐步完善。 Unisat和OKX钱包在技术上支持多种资产协议，成为比特币生态系统中的主要钱包和交易市场。

The approval and listing of the Bitcoin spot ETF on January 11, 2024, marked Bitcoin's formal integration into traditional finance. At the same time, this further strengthened people's expectations for the Bitcoin ecosystem, as a network worth trillions of dollars would inevitably develop into a market scale of hundreds of billions of dollars.

2024年1月11日，比特币现货ETF获批上市，标志着比特币正式融入传统金融。同时，这也进一步增强了人们对比特币生态系统的期待，因为一个价值数万亿美元的网络必然会发展成数千亿美元的市场规模。

However……

然而……

Regrettably, the Bitcoin ecosystem in 2024 did not welcome the attention and development that surpassed previous bull market peaks, and instead entered a long period of silence.

遗憾的是，2024年的比特币生态并没有迎来超越历次牛市顶峰的关注和发展，反而进入了长时间的沉寂期。

Mainnet

主网