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Threshold Network launches tBTC on Sui Blockchain to enhance liquidity
Threshold Network has officially launched the token linked to Bitcoin, tBTC, on the Sui blockchain on July 7th. This initiative aims to pump over 500 million USD of Bitcoin liquidity into the Sui network, enhancing its DeFi capabilities.
The launch of tBTC allows users to mint tokens directly, helping Bitcoin become an important part of the Sui ecosystem, with Bitcoin assets accounting for more than 10% of the total value locked.
This increase enhances the appeal of Sui as a competitive Layer 1 DeFi, opening up potential for new DeFi strategies and market participation. The response from Sui users indicates optimism about improving liquidity and utility on this platform, with expectations for new opportunities from Bitcoin integration.