BTCfi heats up as players like OKX and Echo Protocol lead the way for expansion

<div><div>Welcome back to Aptos’ Weekly Overview. The best place for Aptos community members to get up to speed on the chain’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.&nbsp;New here? Subscribe here to get updates to your inbox. Every Thursday.<h3>By The Numbers</h3><ul><li>Aptos transactions this week: 32.8M (+28.9%)&nbsp;</li><li>Network transactions per second (TPS): 54.3</li><li>Active users: 3.8M (+12.4%)&nbsp;<ul><li>New users this week: 700.7K&nbsp;&nbsp;&nbsp;</li></ul></li><li>Total staked APT: 868.01M (+0%)&nbsp;</li><li>Aptos total value locked (TVL): $1.2B (-3.6%)&nbsp;&nbsp;</li><li>NFT weekly sales: 4.7K (+46.3%)&nbsp;</li></ul>The percentages and metrics are based on a 7-day timeframe from Flipside<a href="https://flipsidecrypto.xyz/cristinatinto/aptos-weekly-stats-d9Jj90"> data</a> as of May 26, unless noted otherwise.<h3>Inside the blockchain</h3>🌐What happened: Bitcoin DeFi (BTCfi) is heating up on Aptos as OKX integrated its wrapped bitcoin, <a href="https://aptosfoundation.org/currents/xbtc-lands-on-aptos">xBTC</a>, on the network and deployed it to the OKX trading exchange. This deployment coincides with Echo Protocol, a bitcoin stake and yield protocol for the Move ecosystem, reaching an all-time high in TVL on Aptos of nearly $275 million, <a href="https://defillama.com/protocol/tvl/echo-protocol">DefiLlama data</a> shows.🌐Why does it matter: OKX's launch of xBTC on Aptos is the exchange’s way to provide bitcoin holders access to the network’s decentralized finance (DeFi) opportunities, while maintaining security. The xBTC is a token that maintains a 1:1 ratio with bitcoin, and comes with no minting or redemption fees unlike other wrapped versions. These aspects are often a common barrier for users wanting to use their bitcoin in DeFi applications because in most cases, a user would have to exchange their bitcoin for a wrapped version.&nbsp;Separately, Echo Protocol has played a pivotal role in Aptos’ growing BTCfi ecosystem. Its recent TVL milestone, at the same time of the release of xBTC, showcased strong demand for bitcoin-backed DeFi solutions on Aptos.&nbsp;OKX’s xBTC has been integrated to protocols including Echo Protocol, as well as other Aptos-native projects like Aries Markets and Hyperion. This creates a more robust BTCfi infrastructure that can support diverse use cases such as lending and high-frequency trading.&nbsp;Bitcoin is the largest cryptocurrency by market cap and the release of xBTC allows an extra avenue of liquidity to flow to Aptos. While this move looks to enhance bitcoin’s utility, it can also position the Aptos network as a contributor to the evolving BTCfi landscape. In turn, it may attract new developers and users that want to access - or use - their bitcoin for DeFi.🌐The big picture: There is a growing trend across the broader web3 sector where bitcoin is becoming more than just a store of value. Users are turning to ways to access their bitcoin in order to participate in DeFi protocols.&nbsp;Aptos is emerging in this sector as a hub for BTCfi, with over 370 million bitcoin wrapped on the network, the team <a href="https://x.com/Aptos/status/1926866239621623919/video/1">shared on X</a>.<h3>The ecosystem is makin’ Moves&nbsp;&nbsp;</h3><ul><li>Moar Market and Hyperion <a href="https://x.com/MoarMarket/status/1927080575195619665">collaborated</a> to release leverage trading for Concentrated Liquidity Market Makers</li><li>Tokimonster launched its <a href="https://x.com/tokimonsterAI/status/1925130801513140303">AI-powered launchpad</a> on X for users to launch and deploy tokens to Aptos&nbsp;</li><li>Listen to this <a href="https://x.com/i/spaces/1mrxmPZRZadJy">X Space</a> to learn how Orbital Pay powers Aptos payments and REFERENDUM is leveraging a vote-to-earn model</li><li>GUI INU revealed GUInited Care, <a href="https://guiinu.medium.com/announcing-guinited-care-be-the-reason-someone-smiles-today-with-gui-7750172cd1a6">a charity initiative</a> for its GUI token holders to donate and support causes in Africa</li><li>FlipVault launched <a href="https://x.com/flipvault/status/1924600972199756197">the mainnet</a> of its peer-to-peer trading platform for tokens and NFTs on Aptos</li><li>Funtasy announced it is creating a <a href="https://x.com/thefuntasy/status/1923219868880601111">launchpad</a> designed for web3 games on Aptos</li><li>Hear from Defi Cattos, Amnis Finance and Kofi Finance and <a href="https://x.com/AptosAfterDark/status/1926768377374077047">their teams’ journeys</a> of building on Aptos&nbsp;</li><li>Mirage shared it <a href="https://x.com/mirage_protocol/status/1925994680027652507">raised $1.6M</a> for its liquidity layer protocol for the Move ecosystem</li><li>Thala released an <a href="https://x.com/ThalaLabs/status/1923527112826196284">article on X</a> about its staked farming feature for its upcoming concentrated liquidity markets&nbsp;</li><li>Read details about Kofi Finance’s <a href="https://aptosfoundation.org/currents/ecosystem-spotlight-kofi-finance-innovating-liquid-staking-on-aptos">mainnet launch</a> and how its liquid staking platform can expand DeFi on Aptos</li></ul><h3>Aptos network wins&nbsp;</h3><ul><li>ByBit integrated<a href="https://x.com/Aptos/status/1926930238824444271">native USDC</a> on Aptos and deployed it to the ByBit trading exchange</li><li>The network recordedan all-time high for daily DEX volume on May 23 of $136.8M, <a href="https://defillama.com/dexs/chains/aptos">DefiLlama data</a> shows</li><li>Aptos stablecoin market caphit a new high of $1.25B (shown below)</li></ul><div><a href="https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fe649c340-ffd7-44df-9d92-aa4b96a4494a_1600x507.png"><div><img src="https://static.sosovalue.com/sosovalue/2025/05/30/d75572f7-09d2-4f86-8345-9be206194ee3.jpg"></div></a></div>Source: <a href="https://defillama.com/stablecoins/Aptos">DefiLlama</a><h3>Join in the fun&nbsp;&nbsp;&nbsp;</h3>Want to dive into the ecosystem full-time? Find the latest job postings on Aptos Foundation <a href="https://www.linkedin.com/jobs/search/?currentJobId=3866613767&amp;f_C=79119792&amp;geoId=92000000&amp;origin=COMPANY_PAGE_JOBS_CLUSTER_EXPANSION&amp;originToLandingJobPostings=3866613767%2C3866613769%2C3866617360%2C3866619178%2C3866618246%2C3866614730%2C3866613765%2C3866617359%2C3866612993">here</a> or:<ul><li>Meet up with the community for the <a href="https://experience.aptosfoundation.org/">Aptos Experience</a> in NYC from October 15-16</li><li>Aptos is hosting a <a href="https://lu.ma/7uugt8bd">community event in Vietnam</a> on June 4 during Web3 Builder Blockchain &amp; AI Week 2025</li><li>Check out Hyperion’s <a href="https://hyperionxyz.medium.com/hyperion-content-creation-challenge-win-your-share-of-a-2-000-prize-pool-bdf260dcc4e0">creator content challenge</a> with rewards of up to $2,000&nbsp;</li><li>Participate in <a href="https://web3.okx.com/earn/activity/xbtc-aptos">OKX Wallet’s campaign</a> with Aptos featuring $3.4M in rewards users that bridge xBTC to the network</li><li>See details about <a href="https://x.com/EchoProtocol_/status/1928032463902888118">Echo Protocol’s campaign</a> with OKX Wallet to earn a part of a $1M reward pool</li></ul>To get this newsletter delivered to your inbox every week, subscribe here.&nbsp;This product was built by <a href="https://token-relations.com/">Token Relations</a>.&nbsp;This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.</div></div>

Bitcoin DeFi on Aptos grows as OKX integrates wrapped BTC, Echo Protocol hits new TVL peak