After Bitcoin‘s latest halving, tokens connected to its Layer 2 solutions have stolen the limelight, surpassing Bitcoin in growth. For instance, STX, the native token of the Stacks network, has experienced a significant surge, jumping approximately 20% to reach $2.87. In comparison, Bitcoin has only seen a moderate rise of around 4.7%, reaching $66,300.
According to Velo Data’s latest ranking, STX has shown exceptional performance and is now among the top 25 cryptocurrencies that have experienced significant growth in the past 24 hours. However, it’s important to note that STX isn’t the only digital currency displaying this upward trend.
Some coins in the Layer 2 category, such as ELA from Elastos and SAVM from SatoshiVM, have experienced significant increases of 11% for ELA and 5% for SAVM since the Bitcoin halving. This is similar to these tokens being swept up by a wave of excitement and rising to new heights, leaving traditional Bitcoin investors intrigued by this developing trend.
Bitcoin Layer 2 solutions function as express lanes on highways, enhancing transaction speed by handling them outside the primary Bitcoin network. Runes represent a way for individuals to inscribe and generate tokens directly on the Bitcoin roadway.
Currently, there are 3,700 Runes tokens etched on the Bitcoin highway, according to Ord.io.
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2024-04-22 13:40