最新报道：According to Bijie.com, the latest data from Maestro shows that Bitcoin's financial architecture is rapidly maturing. With $7.39 billion currently staked and an additional $3.32 billion in re-staking, the traditional passive HODL narrative is gradually being replaced by active on-chain capital deployment. According to Maestro's "State of BitcoinFi Report," released to crypto.news on August 7, the BitcoinFi ecosystem's overall locked value has surpassed $10 billion, primarily driven by staking and lending protocols. The report, compiled jointly by Maestro and the BitcoinFi Accelerator and based on protocol-level data and market analysis from the first half of 2025, marks the first comprehensive analysis of Bitcoin (BTC)'s transition from a static store of value to a dynamic financial network. The report indicates that approximately $7.39 billion of BTC is staked on yield-generating platforms, with an additional $3.32 billion engaged in re-staking strategies. Babylon, Liquidium, and Stacks have emerged as early leaders in their respective niches. According to Maestro, Babylon leads the staking space with $4.79 billion in locked value, but innovators like Solv, Lombard, and CoreDAO are driving capital efficiency through liquidity-staking tokens and dual-token models. Meanwhile, Liquidium leads the Bitcoin-native lending space, processing over $500 million in lending volume as demand for BTC-backed loans grows. Maestro co-founder and CEO Marvin Bertin said, "We are witnessing the convergence of TradFi and DeFi in Bitcoin-denominated capital markets. For the first time since 2009, the key components of a complete on-chain financial landscape are emerging, encompassing exchanges, lending, and stablecoins. Bitcoin is evolving from a static reserve asset to a dynamic and efficient financial network." This transformation is being driven by Bitcoin's growing programmability layer. Scaling solutions, once considered speculative experiments, now hold $5.52 billion in locked value, a clear sign that developers and users are embracing Bitcoin's Layer 2 approach for smart contracts and asset issuance without sacrificing self-custody. Stacks, in particular, saw its locked value double in the second quarter, adding approximately 2,000 BTC. Beyond DeFi, Bitcoin's meta-protocol is quietly reshaping network activity. Maestro reports that Runes, Ordinals, and BRC-20 accounted for 40.6% of Bitcoin's total trading volume in the first half of 2025, with BRC-20 reaching $128 million in daily trading volume. After a slump in 2024, Ordinals rebounded strongly, exceeding 80 million inscribed tokens and generating $681 million in fee revenue. Even though Runes declined in late 2024, they saw renewed interest in early 2025, demonstrating the simultaneous expansion of Bitcoin's cultural and financial applications. Stablecoins, long considered the domain of Ethereum, are also gaining a foothold in BitcoinFi. With locked value reaching $860 million and a quarterly growth rate of 42.3%, projects like Avalon's USDa demonstrate the potential for growth of Bitcoin-native stablecoins when paired with high-yield products. This growth reflects a broader trend: Bitcoin's transformation into a full-stack financial ecosystem, not just a base layer for settlements. Meanwhile, venture capital is beginning to take notice. After a period of cooling funding, BitcoinFi startups secured 32 funding rounds totaling $175 million in the first half of 2025, with 20 of those investments focused on DeFi, custody, or consumer applications, rather than pure infrastructure, according to Maestro.