Outside Source
Bitcoin narratives like NFTs, layer-2s, and re-staking are fading, with experts citing decreased hype and focus shifting to sustainable growth.
News
A Bitcoin layer-2 executive explained how Bitcoin narratives that were “overhyped” have now wholly vanished while the ecosystem develops.
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.
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.”
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.
This article first appeared at Cointelegraph.com News
