ChainCatcher news, Galaxy Research analyzed the growth of the Bitcoin L2 ecosystem in its latest report for 2024, pointing out that as of now, venture capital in the Bitcoin L2 space has reached $447 million, with 39% of the investments occurring in the first three quarters of 2024. From January to September 2024, Bitcoin L2 projects secured $174 million in funding. Of this, $105 million went to sidechain projects, while $63 million went to rollups projects.Galaxy estimates that by 2030, approximately $47 billion in Bitcoin liquidity could flow into the Bitcoin L2 network. The agency believes that before 2024, traditional crypto venture capital firms (excluding those focused on Bitcoin) had limited involvement in the Bitcoin ecosystem. As the ecosystem matures, crypto venture capital firms will continue to deploy funds into Bitcoin L2 projects.

ChainCatcher news, according to Cointelegraph, the Bitcoin L2 solution Bitfinity Network has announced the completion of a $12 million funding round, which includes $7 million invested by institutions such as Polychain Beacon Fund, ParaFi, Draft Ventures, and Warburg Serres, as well as $5 million raised through a community over-the-counter (OTC) token sale.The project will utilize the Chain Fusion technology of the Internet Computer Protocol (ICP) to enable the operation of Bitcoin native assets within the Ethereum-compatible ecosystem. The ecosystem plans to host decentralized applications including Sonic, Chapswap, Lendfinity, and Omnity Bridge. Notably, the founder of the lending protocol Liquity, which has a TVL of one billion dollars, is also involved in supporting this project.According to RootData, Bitfinity (formerly known as InfinitySwap) is the next-generation EVM that acts as a second layer for Bitcoin and other assets, utilizing threshold signature schemes and built on IC.

ChainCatcher news, according to Coindesk, the lending protocol Aave is seeking community feedback to gauge interest in deploying Spiderchain on the Bitcoin L2 network.The driving force behind the protocol, the Aave-Chain Initiative (ACI), has released a discussion draft to solicit opinions on a proposal from Spiderchain developer Botanix Labs, aimed at expanding the scale of lenders and locking in over $17 billion in total value within the emerging Bitcoin DeFi environment.After collecting feedback, the protocol will need to identify and mitigate potential security risks. ACI has not provided a timeline for this process.

ChainCatcher news, Bitcoin L2 interoperability layer Map Protocol completes $1 million strategic financing, with Gryps participating. The new funds will be used to enhance the functionality of Bitcoin Layer 2 solutions.It is reported that MAP Protocol was established in 2019, utilizing ZK light client technology as a gateway for developers and users within the Bitcoin ecosystem.

ChainCatcher message, Nansen CEO Alex Svanevik stated on social media: "Spent a lot of time studying Bitcoin's Layer 2 network (L2). I think we have found the winner. Stay tuned."

ChainCatcher news, according to CoinDesk, the Bitcoin Layer2 project BOB has announced its integration into Optimism's Superchain ecosystem, becoming the first Bitcoin-native project integrated into this ecosystem.BOB has received a grant of $870,000 from the Optimism Foundation. This ecosystem has previously attracted Coinbase and Kraken to join, building its independent blockchain through the OP Stack toolkit.

ChainCatcher news, Cardano founder Charles Hoskinson has changed his stance on Bitcoin and announced that Cardano L1 will transform into Bitcoin L2.

ChainCatcher message, released by BOB, a hybrid L2 project driven by Bitcoin and Ethereum, publishes the Hybrid L2 white paper.Hybrid L2 is a brand new model that combines the security of Bitcoin with the innovation of Ethereum DeFi, ultimately making Bitcoin the core of the entire DeFi ecosystem. BOB's hybrid L2 design aims to fundamentally change the way Bitcoin is used in DeFi finance, with its ultimate form inheriting Bitcoin's security and supporting trustless Bitcoin deposits and withdrawals.

ChainCatcher news, Bitcoin L2 protocol GOAT Network announced the launch of its testnet and the introduction of the Founders Club program on the X platform.According to the team: "The Founders Club program provides innovators with a pathway to shape the future of the GOAT ecosystem. Members can choose between three different plans tailored to various stages of project development (from conception to adoption). Founders can apply as individuals or teams, participate in project building challenges, or collaborate on existing projects."GOAT Network stated that Founders will interact with the GOAT developer team during weekly project office hours to receive support for improving and executing projects, ensuring that participants maximize their contributions.

ChainCatcher News: The Bitcoin L2 network Stacks has announced the establishment of an Asian Foundation, which will lead the growth and development of the Stacks ecosystem in Asia. Organizations including DeSpread, Spartan Group, and SNZ will become its strategic partners. The foundation will initially secure $15 million in funding from private holders of Stacks for regional operations, with the possibility of obtaining more grants in the future.

ChainCatcher message, the EVM-compatible Bitcoin L2 network BEVM tweeted, stating that the project has not conducted any form of token sale. BEVM clearly stated that any actions involving the sale of BEVM tokens are considered fraudulent.

ChainCatcher news, the Bitcoin Layer2 project zkBTC Bridge under Lightec Labs has received grant funding support from the ICP Foundation. It is reported that zkBTC Bridge aims to utilize Zero-Knowledge Proof (ZKP) technology to build a decentralized bridge between Bitcoin and Ethereum. With this grant funding support, zkBTC will further advance its development work, committed to providing users with secure and efficient cross-chain solutions, and promoting the development of the Bitcoin Layer2 ecosystem.

ChainCatcher news, Bitcoin L2 project Ark Labs announced the completion of a $2.5 million Pre-Seed funding round, led by Tim Draper and Draper Ventures, with participation from Fulgur Ventures, Axiom Capital, and Bitcoin angel investor Stephen Cole. This new funding will be used for its development and to attract top talent.It is reported that the Ark protocol is an open-source second-layer protocol designed to work with the Lightning protocol to enable fast, low-cost, and seamless payments in Bitcoin, without compromising decentralization or self-custody.

ChainCatcher news, according to Fortune, the Bitcoin L2 project Bitlayer Labs announced the completion of a $11 million Series A financing, led by Franklin Templeton, ABCDE, and Framework Ventures, with participation from Stake Capital Group, WAGMI Ventures, Flow Traders, GSR Ventures, and FalconX. This round of financing brings Bitlayer's total funding to $16 million.It is reported that Bitlayer is the first Bitcoin infrastructure project to receive ETF-licensed institutional investment, aiming to address the technical challenges of Bitcoin scalability through crypto innovation and blockchain protocol engineering. The project will be used to support various protocols within the ecosystem and continue the development of its Mainnet-V2.

ChainCatcher news indicates that according to a document released on Friday, the U.S. Securities and Exchange Commission has dropped its three-year investigation into blockchain software developer Hiro Systems (formerly Blockstack), which raised $70 million through token sales from 2017 to 2019.In a letter to Hiro included in the SEC's enforcement division's document on Friday, it stated: "Based on the information we currently have, we do not intend to recommend that the Commission take enforcement action against Hiro Systems PBC (formerly Blockstack PBC)."According to the Web3 asset data platform RootData, Hiro builds, deploys, and scales fully expressive smart contract applications on Bitcoin using the Stacks infrastructure.

ChainCatcher news, according to The Block, the interoperability protocol ZKM announced plans to launch the Bitcoin L2 solution GOAT Network later in the third quarter. According to a statement, ZKM stated that the solution will be the first decentralized Bitcoin L2 to share network ownership.

ChainCatcher news, RWA startup Hamilton launched the tokenization of U.S. Treasury bonds on Bitcoin's Layer 2 solutions (Stacks, Core, and BoB) on July 4, 2024, aiming to improve scalability, reduce costs, and enhance the liquidity of these assets.Hamilton further emphasized a report from the Boston Consulting Group, which indicates that the RWA market is expected to reach $16 trillion by 2030.