Layer-2 tokens surge past Bitcoin post-halving

In the wake of its fourth halving event, layer-2 coins associated with the Bitcoin blockchain saw significant gains, outperforming BTC itself. 
Dot
April 23, 2024
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

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Photo Source: Kanchanara

In the wake of its fourth halving event, layer-2 coins associated with the Bitcoin blockchain saw significant gains, outperforming BTC itself. 

STX, the native token of Bitcoin L2 network Stacks, has seen an impressive surge of nearly 12% over the last week, reaching $2.9 per token post-halving. Besides STX, a few other coins, including RIF, ELA, and SAVM rallied after the fourth halving. In contrast, Bitcoin has seen a modest jump in its price, with the token's value increasing by just 2.4% since April 15. 



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Despite sounding similar to the layer-2 solutions of the Ethereum network, BTC's L2 chains differ quite a bit from the former. Ethereum's L2 networks primarily focus on scaling the ETH smart contract blockchain. Meanwhile, Bitcoin layer-2 projects aim to introduce programmability features to BTC's main blockchain.

It is worth noting that the surge in the value of the layer-2 coins was far from the only consequence of Bitcoin's fourth halving. Shortly after the block 840,000 was mined, Bitcoin's transaction fees skyrocketed to $2.4M before returning to normal by Monday.

Layer-2 tokens surge past Bitcoin post-halving

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Contents
Photo Source: Kanchanara

In the wake of its fourth halving event, layer-2 coins associated with the Bitcoin blockchain saw significant gains, outperforming BTC itself. 

STX, the native token of Bitcoin L2 network Stacks, has seen an impressive surge of nearly 12% over the last week, reaching $2.9 per token post-halving. Besides STX, a few other coins, including RIF, ELA, and SAVM rallied after the fourth halving. In contrast, Bitcoin has seen a modest jump in its price, with the token's value increasing by just 2.4% since April 15. 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Despite sounding similar to the layer-2 solutions of the Ethereum network, BTC's L2 chains differ quite a bit from the former. Ethereum's L2 networks primarily focus on scaling the ETH smart contract blockchain. Meanwhile, Bitcoin layer-2 projects aim to introduce programmability features to BTC's main blockchain.

It is worth noting that the surge in the value of the layer-2 coins was far from the only consequence of Bitcoin's fourth halving. Shortly after the block 840,000 was mined, Bitcoin's transaction fees skyrocketed to $2.4M before returning to normal by Monday.

Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

In the wake of its fourth halving event, layer-2 coins associated with the Bitcoin blockchain saw significant gains, outperforming BTC itself. 

STX, the native token of Bitcoin L2 network Stacks, has seen an impressive surge of nearly 12% over the last week, reaching $2.9 per token post-halving. Besides STX, a few other coins, including RIF, ELA, and SAVM rallied after the fourth halving. In contrast, Bitcoin has seen a modest jump in its price, with the token's value increasing by just 2.4% since April 15. 



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


Despite sounding similar to the layer-2 solutions of the Ethereum network, BTC's L2 chains differ quite a bit from the former. Ethereum's L2 networks primarily focus on scaling the ETH smart contract blockchain. Meanwhile, Bitcoin layer-2 projects aim to introduce programmability features to BTC's main blockchain.

It is worth noting that the surge in the value of the layer-2 coins was far from the only consequence of Bitcoin's fourth halving. Shortly after the block 840,000 was mined, Bitcoin's transaction fees skyrocketed to $2.4M before returning to normal by Monday.

Written by
Ayush Pande