Amidst the turmoil the crypto industry has been involved in over the past month, the global market capitalization has dropped from the psychological level of $ 1 trillion; Bitcoin has followed the trend. The largest cryptocurrency in the market cap dropped from $ 445 billion to $ 420 billion.
Over time, the utility of BTC has been narrowed as a store of value and transfer of value. However, the emergence of BTC Decentralized Finance (DeFi) protocols is trying to convert the utility of this network even further, expanding its use cases with the arrival of the Ordinals protocol.