Project Overview
Bitway (BTW) is a purpose built, Bitcoin compatible Layer 1 blockchain designed for Bitcoin-native businesses and financial infrastructure. Launched in 2023 under the name "Side Protocol," the project later rebranded to Bitway. It's co founded by Shane Qiu, with Dave Hrycyszyn serving as Chief Technology Officer. The project is backed by YZi (Binance) Labs.
Use Case
$BTW is the native utility and governance token of the Bitway ecosystem. It powers network security, staking, and governance, while connecting Bitway Ledger — the project's own Proof-of-Stake chain with its broader yield, payment, and financing products. In short, Bitway aims to bridge Bitcoin's "store of value" strength with real, programmable onchain finance, letting BTC liquidity flow into staking, lending, and payments.
Supply & Tokenomics
Total supply sits at 10,000,000,000 BTW, with the whitepaper setting the initial circulating supply at 2,200,000,000 BTW (22%) at launch. Community and ecosystem allocations vest linearly over 41 months, with full unlock expected around 4 years after TGE. Team and backer tokens carry a 12-month lockup. The token runs on both BNB Chain and Ethereum.
Whitepaper
Bitway's official whitepaper lays out the full tokenomics, vesting schedule, and roadmap. Worth a read before putting any money in.
Market Behavior & Liquidations
$BTW has been wildly volatile, touching an all-time high of $2.77. Its biggest recent rally came from a short squeeze in a single day, $1.42M in liquidations hit the market, with 98.9% coming from short positions. On Binance, only 27.3% of accounts were long versus 72.7% short, and funding stayed positive across exchanges, meaning longs were the ones getting paid.
Risk Factor
On-chain data shows serious whale concentration one wallet alone holds 78% of total supply, and the top 10 wallets control over 99%. That's a major singlepointof failure risk; if a big holder decides to sell, thin liquidity could send price crashing fast. Trade carefully, especially with leverage.
What Could Happen Next?
Short-term, continued short covering and positive funding could keep momentum alive. Long-term, that whale concentration plus upcoming token unlocks are the real risks to track. Just sharing the data here, not financial advice alway DYOR
What's your take does BTW's short squeeze have more room to run, or is the whale concentration the real red flag? Drop your thoughts in the comments 👇
#Bitway #Binance #altcoins #BTC走势分析 #dyor