While the bull market is definitely approaching, more and more experts are stating that if the Bitcoin ecosystem keeps growing, the spike in demand for the cryptocurrency might push its price above its previous highs and even hit $100,000. As the interest in owning Bitcoin assets is projected to grow beyond the crypto-savvy populations of the market, the Lightning Network is poised to be the largest technical foundation enabling the further adoption of Bitcoin payments in 2024 with its almost instantaneous transaction processing and new micropayment options in the digital economy.
Getting ahead of this future trend is a pivotal point for crypto exchanges, and Bitget, being the largest crypto copy trading platform, is scaling up on even more user experience modifications and accessibility in the coming year. Its flagship — Bitget Wallet — has just announced its plan to further expand the platform’s support of the BTC Ecosystem with increased investments in such areas as support for BTC asset management, cross-chain swaps, and on-ramping for EOA and MPC wallets.
One of the anticipated features to be introduced by the Bitget Wallet in 2024 is the introduction of asset swaps between the Bitcoin mainnet and the Lightning Network to support cross-chain transactions between BTC and EVM assets on Bitget Swap. This partnership will give traders wider and faster options for expanding their portfolios via new trading options.
Though services centred around the Bitcoin ecosystem, like the BTC asset management, cross-chain swaps, and on-ramping for EOA and MPC wallets as Taproot compatibility with asset transfers for BRC-20 tokens and NFTs are already available on Bitget wallets – users can expect to access a whole new range of services within the Bitcoin ecosystem in 2024.
A growing number of Bitcoin ecosystem projects are already integrating Bitget Wallet on their official websites, such as Unisat, ALEX Lab, LifeRestart, and Bitmap Explorer, which are all featured on Bitget Wallet’s integrated DApp browser for ease of user access.
Alvin Kan, Chief Operating Officer of Bitget Wallet, emphasized the significance of the Bitcoin Ecosystem for Bitget’s user expansion by saying, “As the fundamental cornerstone of the Crypto industry, Bitcoin is not only seen as an undisputed benchmark of crypto value but also represents the innovative spirit of the industry. Catalyzed by the introduction of the BRC-20 and Ordinals protocols, together with the imminent halving next year, the Bitcoin ecosystem is set to be a prominent player in shaping the overall trajectory of the Web3 world.”
This step is crucial in engaging new users as it fosters a platform that is easy to use and accessible for people to interact with digital assets and take part in the Bitcoin Ecosystem.
Such news only further points out how, in the following year, the market can expect to see more and more platforms introducing stronger, easier and safer ways for users to manage and grow their assets in the Bitcoin ecosystem.