Blog

77% of Bitcoin holders have not yet used BTCFI, revealed by the survey

0 0 10 minutes read

Welcome to the protocol, CoinDesk’s weekly wrapping of the most important story of cryptocurrency tech. I’m Margaux Nijkerk, a CoinDesk reporter.

In this issue:

BTCFI problem: 77% of Bitcoin holders have not yet tested it, says the survey
Ethereum’s Fusaka upgrade passes the holesky test, moving to Mainnet
Doublezero mainnet is live with 22% of staked sol on board
Bee maps raised $ 32m to measure network powered by Solana decentralized mapping

Network news

Bitcoin holders are hesitant to explore BTC defi: Bitcoin Decentralized Finance (DEFI), also known as BTCFI, is that -tout as the next wave of change for the world’s largest cryptocurrency. However, research suggests that bitcoin holders themselves are slightly engaging. Some 77% of Bitcoin holders have never tried a BTCFI platform, according to a survey of more than 700 respondents across North America and Europe of BTC Mining Ecosystem Gomining. Only over 10% have been reported experimenting once or twice, while only 8% say they are actively using BTCFI services for yield or lending. The survey features a strong connectivity between the promise of the sector and its actual reach. “There is a huge appetite for these instances, but the industry has built products for crypto natives, not for the sun -held by Bitcoin,” Gomining CEO Mark Zalan said in a statement. The appetite shows the data: 73% of the respondents expressed an interest in achieving their BTC by lending or staking, while 42% would like access to liquidity without selling. But the doubt is dominant. More than 40% said they would provide less than 20% of their holdings on BTCFI products, emphasizing the confidence and complexity of the sector. – Jamie Crawley Read more.

Ethereum Fusaka’s upgrade to Holesky Testnet is Live: Ethereum’s next upgrade, Fusaka, only approached live on the main blockchain after a The successful run to the test On the Holesky Test Network last week. Fusaka Hard Fork just came a few months after Ethereum’s Main PECTRA UPGRADE and designed to make things cheaper for institutions using Ethereum. One of its changes Introduced PeerdasA feature that allows validators to check only the part of the data required instead of full chunks (“blobs”), which helps cut costs for both layer-2 networks and validators. Testing networks such as holesky act as skills basis where developers can safely try the new code before it reaches the real chain. The holesky, which was launched in 2023, was particularly important because the validator setup was closely reflected in Ethereum’s mainnet. But over the past few months, holesky began to show age signs and reliability issues. Fusaka is the last upgrade that the network will see before it falls – two weeks after Fusaka lives on Mainnet. The next one Two testnets are running has been scheduled for October 14 and 28. After they are complete, Ethereum developers will be locked on a date for the full launch of Fusaka Mainnet. – Margaux Nijkerkk Read more.

Doublezero mainnet is live: A new project wants to give the blockchains their own “fast line” on the Internet. The Doublezero Foundation has announced that the highly expected Mainnet-Beta is live. Doublezero is a network developed to accelerate how blockchain validators Talk to each other. Instead of relying on the public internet, which can sometimes be slow and unpredictable, Solana validators can now connect through doublezero fiber routes, which users will transact faster. In simple terms, the doublezero is like a private highway system for blockchains. While normal Internet routes are designed to be cheap and broad, they are not built for split-second coordination of thousands of blockchain nodes needed. Doublezero said the network reduces the lag and makes it easier for validators to process transactions and remain in the sync, which can improve both performance and reliability for end users. The project found an early adoption. Currently, 22% of staked sol is plugged in the doublezero network. Large industry names such as Jump Crypto, Galaxy, Rockawayx, and Jito have contributed links to fiber and engineering resources, as estimating that the Internet infrastructure will be faster as a scale of blockchain applications. – Margaux Nijkerkk Read more.

Bee maps raised $ 32m in funding: Bee maps, the decentralized mapping project powered by the Hivemapper, raised $ 32 million in fresh funds to expand the global contributor network and measure its infrastructure, it announced this week. The spin was led by Pantera Capital, LDA Capital, Borderless Capital and Ajna Capital, which marked one of the largest financings in the decentralized physical infrastructure (DEPIN) sector this year. Bee Maps is an application on the Hivemapper network, which is one of the largest decentralized physical infrastructure networks (DEPIN) Focused on Solana mapping data. Hivemapper allows drivers to contribute data through AI-improved dash cams, which see real-time changes on the roads (such as new signs on roads, detours, or construction zones), ensuring digital maps can be quickly updated to stay accurate. Bee maps use this infrastructure by rewarding native token contributors, $ honey, for collecting street level imagination. Increasing the increasing appetite for the investor for the vision of real-time bee maps, AI-powered maps. In recent months, Bee Maps has cooperated with the major players including Lyft and Volkswagen’s Robotaxi Program To bring map to putting it on their platforms. Fresh capital will be used to distribute more devices, enhance AI models that process and update map features and boost contributor incentives tied to $ honey. – Margaux Nijkerkk Read more.

In other news

Kaio, the firm of tokenization supported by Brevan Howard and Nomura Bank-focused laser digital, carries tokenized funds to the SEI Network (SEI) as the real-world asset demand expands. The firm, previously known as Free capital. Tokens, available to institutional and accredited investors, provide for onchain subscription, redemption and reporting. The SEI network, built for financial speed transactions, provides the underlying metal for implementation. Following Kaio’s expansion Ark-back Tokenization Firm Securitize Introduction The $ 112 million Apollo Diversified Credit Fund, a tokenized feeder fund of Apollo’s private credit vehicle, at SEI. The announcement features a growing trend in tokenized real-world assets (RWAs), where traditional investments such as bonds, credit and funds are represented as digital tokens. – Kimzian Sandor Read more.
Duma, a subsidiary of the Digital Currency Group (DCG) dedicated to decentralized artificial intelligence (AI), has appointed Crypto founder Greg Schvey and Jeff Schvey as new chief operating officer and chief technology officials, respectively, the company said. The hires marks a major expansion for the late while scales operations throughout the Bittensor network, including validator, mining, and subnet accelerator initiatives, and prepares to launch a Division Management Division, the company said. The Schvey Brothers are better known as co-founding tradblock, an institutional crypto data and DCG portfolio management platform, and Axoni, a blockchain infrastructure firm that serves the traditional financial market. Axoni’s largest business unit was obtained by the London Stock Exchange Group (LSEG) in 2024. DCG is an early investor in both adventures. – Will canny Read more.

Regulation and policy

Bank of England (BOE) is planning exceptions to its proposed limitations on Stablecoins Holdings, Bloomberg reported Earlier this week. The Boe will provide apostasy to some companies that need to hold many tokens, such as crypto exchanges, the report said, citing someone who is familiar with the matter. The UK central bank will also allow companies to use stablecoins for regulating the digital securities sandbox, people said. Last month, BOE officials reportedly planned to impose caps of 10,000-20,000 pounds ($ 13,400- $ 26,800) for individuals and 10 million pounds ($ 13.4 million) in stablecoins. Digital assets industry numbers criticized plans as not working. Boe Governor Andrew Bailey expressed doubt about stablecoins in July, Highlighting possible threats to financial stability and warning global investment banks against the development of themselves. – Jamie Crawley Read more.
The Securities and Exchange Commission is still looking to formalin a “change of change” for companies to build digital ownership and other innovative technologies in the US, which is potential once the quarter ends, said agency chairman Paul Atkins. While acknowledging that the current government’s shutdown is “Hamstrung” the SEC’s ability to make a decision -making, Atkins said working on this exemption is still his priority for the end of the year or in the first quarter of 2026, he said in a futures and derivatives law that has been raised by the law of Katten Muchin Rosenman llp in Midtown Law in Midtown Lawn LLP in Midtown law in Midtown Law Manhattan on Tuesday. The SEC chair opened with one of his now-common refrains: that crypto is “Job one“And the agency has become a pro-innovation body seeking to encourage developers and entrepreneurs to build in the US- Nikhilesh de Read more.