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Bitcoin DeFi Projects Pivot to Niche Users as TVL Plunges From $180B to $70B

GateNews
On-Chain Data
BTC-1.43%
According to Rootstock Labs Director Richard Green, speaking at last week's BTC Prague conference, decentralized finance projects built on Bitcoin are narrowing focus to specific user groups as liquidity drains from the sector. Total value locked across DeFi protocols has fallen from roughly $180 billion last October to approximately $70 billion today, according to data from The Block. Rather than pursuing a broad user base, Rootstock is shifting strategy to target niche communities such as bitcoin miners, treasury firms, and long-term BTC holders interested in lending and yield products. "Where we're now positioning ourselves is not shallow and wide, it's very narrow and deep," Green said. While Botanix, a Bitcoin Layer 2 project, recently shut down citing insufficient DeFi demand, Green stated that demand for Bitcoin DeFi products persists within specific pockets, particularly among mining companies seeking bitcoin-backed loans and institutional investors exploring tokenized fund strategies.
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