Defi

Bitcoin

DeFi

Arthur

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin trading app Oyl has raised $3 million in pre-seed funding.</li>
 <li>The platform, Oyl Wallet, is set to launch in the coming weeks and will offer in-wallet trading features for Bitcoin.</li>
</ul>
<p>The trading application for Bitcoin, Oyl, has successfully raised a pre-seed funding round of $3 million.</p>
<p>The primary investor in the round was venture firm Arca, with additional backing from the Maelstrom Fund, owned by Arthur Hayes, and Domo, the creator of the BRC-20 token standard.</p>
<h2 id="features-of-oyl">Features of Oyl</h2>
<p>Oyl aims to create a comprehensive trading platform for the Bitcoin ecosystem.</p>
<p>This includes a market aggregation tool for BRC-20 tokens and in-wallet trading features for Bitcoin.</p>
<p>The platform also plans to integrate with OmniSat, a DeFi platform focused on Bitcoin.</p>
<p>The platform, named Oyl Wallet, is slated to launch in the near future.</p>
<h2 id="bitcoin-s-rising-popularity">Bitcoin’s Rising Popularity</h2>
<p>Arthur Hayes, in a statement, highlighted the growing interest in Bitcoin’s potential.</p>
<p>He noted that funds that have historically concentrated on other chains are now exploring opportunities with Bitcoin Ordinals.</p>
<p>He believes that the winners in the Bitcoin Defi sector are yet to be determined, presenting a massive opportunity.</p>
<p>Bitcoin transactions have been on the rise in recent months, partly due to the increased trading volume of Bitcoin Ordinals.</p>
<p>In November 2023, the transaction costs of Bitcoin surpassed those of Ethereum, largely due to the increased trading activity around Bitcoin Ordinals.</p>

Arthur Hayes Fuels Bitcoin Trading App Oyl with $3M Pre-Seed Investment

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