Citrea

Citrea is a Layer 2 scaling network built on top of Bitcoin, designed to bring programmable smart contracts to Bitcoin users without requiring changes to Bitcoin itself. It addresses the fact that Bitcoin's base layer has no native support for complex applications, a limitation that has historically pushed developers toward other blockchains. Citrea aims to let developers build fully featured decentralized applications that ultimately settle on Bitcoin and inherit its security guarantees.

Citrea operates as a zero-knowledge rollup, meaning it batches transactions off-chain and posts cryptographic proofs back to Bitcoin for verification using a system called BitVM. It uses an in-house Type 2 zkEVM, which makes it broadly compatible with software written for Ethereum's virtual machine while settling on Bitcoin. The CTR token functions within the Citrea ecosystem, and the network also features a trust-minimized BTC bridge called Clementine and a stablecoin, ctUSD, issued by MoonPay; 15 percent of the maximum supply of 10 billion tokens is currently in circulation.

Over the trailing 30 days, the network collected 316.00 USD in fees, which annualizes to approximately 3,844.67 USD; over the trailing 12 months the figure was 43,485.83 USD. These fees are paid by users submitting transactions on the network. The market capitalization relative to those annualized fees stands at 7,010.88, and the fully diluted valuation relative to the same figure is 46,739.23, both reflecting how small the current fee stream is relative to the network's valuation. The protocol's stablecoin supply hosted is 3,730,548.10 USD against a total value locked of 9,392,797.54 USD at the current point in time.