There is no longer any doubt about the biggest narrative of this bull market—BTCFi! But the cruel reality is that 90% of people cannot distinguish the true tier of STX, CORE, MERL, and BABY, leading them to buy randomly, miss out, and fail to hold the real major winners.

The BTCFi sector will never be dominated by a single project; instead, it will be divided into distinct tiers. The four types of assets correspond to four different capital logics, and more importantly, determine four completely different upside ceilings!

🥇 First Tier: CORE (The Absolute All-Around Leader)

CORE is not a Bitcoin L2, but an independent Bitcoin computing-power L1 blockchain! This is its biggest “moat.” Leveraging Bitcoin computing power as its security foundation while being fully EVM-compatible, it is the only one among the Four Kings to have completed a commercial closed loop and entered the “revenue era.” In 2026, lstBTC institutional staking, SatPay cross-border payments, and ongoing on-chain fees will continue generating real cash flow, with buyback expectations ahead. It is the all-around leader with the strongest fundamentals, narrative, implementation, and capital capacity in this BTCFi cycle, offering the highest certainty of a major uptrend!

🥈 Second Tier: BABY (The Highest-Risk-Reward Dark Horse for the Long Term)

BABY follows the highest-level underlying security route. BTC remains in native addresses throughout, with no custody, no cross-chain transfers, and zero-risk staking, making it the most trusted BTCFi model currently available. It has attracted heavy investment from top-tier capital and has no competitors in its niche. Its drawback is that it erupts slowly, making it more suitable for long-term accumulation over a year or more while awaiting a value revaluation in the middle to late stages of the bull market.

🥉 Third Tier: STX (The Steady, Defensive Option)

A veteran Bitcoin-native L2 with stable institutional recognition. However, its fatal shortcoming is the lack of EVM compatibility, which limits its developer ecosystem and makes it difficult to absorb massive amounts of new capital. It is suitable for conservative allocations to capture cyclical gains, but its upside ceiling is locked in.

🏅 Fourth Tier: MERL (A Purely Cyclical, High-Elasticity Asset)

There are no issues with the technology, but its assets rely on MPC custody, creating counterparty risk that large institutions naturally avoid. Its performance is entirely tied to inscription hype, making it a typical swing-trading sentiment asset without an independent long-term growth thesis.

💡 Ultimate Strategy:

Want to capture the major uptrend and fundamentals-driven resonance ➔ heavily allocate to CORE

Want maximum security and to accumulate at long-term lows ➔ allocate to BABY

Want stable value preservation and low-volatility holdings ➔ choose STX

Want to speculate on short-term narratives and capture inscription-driven upside ➔ hold a small position in MERL

The core iron rule for making money in a bull market: Choosing the right tier within a sector is ten times more important than frequently switching coins!

BTCFi #CORE #BABY #STX #MERL

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