Rootstock Labs' Head of Institutions and Ecosystem, Richard Green, stated that the ongoing liquidity shrinkage in the DeFi market is prompting Bitcoin DeFi projects to adjust their development strategies. Data shows that the total value locked (TVL) in DeFi protocols has dropped from around $180 billion in October last year to approximately $70 billion. Rootstock is now focusing on specific groups such as Bitcoin mining companies, Bitcoin reserve firms, and long-term holders, offering Bitcoin-backed loans and yield products. Although the Bitcoin Layer 2 project Botanix recently shut down its network due to insufficient demand, Green believes BTCFi hasn’t lost its appeal. Instead, it’s shifting towards smaller but high-demand niche markets, such as mining company financing and tokenized Bitcoin fund strategies for institutional investors. (The Block) https://www.(wublock123.com)/news/rootstock-btcfi-shifts-to-miners-bitcoin-reserve-companies-62913