Ethereum

Bitcoin

Velo

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-halving-boosts-layer-2-tokens/" data-wpel-link="internal">Bitcoin Halving Boosts Layer-2 Tokens</a><br></p>
<p style="text-align: justify">The fourth <a href="https://coin-turk.com/ethereum-eth-uzun-vadede-bitcoini-btc-gecebilir" data-wpel-link="internal">Bitcoin</a> halving is now behind us. Everyone now anticipates a rise in the prices of <a href="https://en.coin-turk.com/these-price-levels-are-critical-says-cryptocurrency-analyst-is-bitcoins-trend-reversing/" data-wpel-link="internal">Bitcoin</a> and other cryptocurrencies. <a href="https://en.coin-turk.com/sec-greenlights-11-spot-bitcoin-etfs-impact-on-btcs-price/" data-wpel-link="internal">BTC</a>, the flagship cryptocurrency, today broke the $66,000 resistance. As Bitcoin’s price increased, Bitcoin Layer-2 coins left the cryptocurrency BTC behind with an increase of 5% to 20% following the halving of mining rewards. This rise occurred amidst a spike in transaction fees on the Bitcoin Blockchain led by Runes.</p> 
<h2 style="text-align: justify" id="bitcoin-layer-2-tokens-attract-attention">Bitcoin Layer-2 Tokens Attract Attention</h2> 
<p style="text-align: justify">With BTC’s halving, tokens associated with Bitcoin Layer-2 solutions particularly stood out. Stacks’ (STX) native token STX rose about 20% to $2.87 due to the halving effect. Meanwhile, Bitcoin gained just over 4.7%, reaching $66,300. According to Velo Data, the cryptocurrency <strong>STX</strong> was one of the top 25 best-performing cryptocurrencies in the last 24 hours.</p> 
<p style="text-align: justify">Other Layer-2 coins like Elastos’ ELA token and SatoshiVM’s SAVM also rose by 11% and 5% respectively after the halving.</p> 
<h2 style="text-align: justify" id="bitcoin-layer-2-solutions-could-become-popular">Bitcoin Layer-2 Solutions Could Become Popular</h2> 
<p style="text-align: justify">Bitcoin Layer-2 solutions are projects that address scalability and transaction speed limitations on the <strong>Bitcoin Blockchain</strong>. These solutions provide scalability by transacting off the main chain.</p> 
<p style="text-align: justify"><a href="https://coin-turk.com/ethereum-infra-transactions-itx-lansmani-ile-kurumsal-kabulu-hedefliyor" data-wpel-link="internal">Ethereum</a>‘s Layer-2 solutions often focus on scaling the <strong><a href="https://en.coin-turk.com/ethereums-journey-rising-amidst-the-crypto-market-gains/" data-wpel-link="internal">Ethereum</a></strong> Blockchain, while Bitcoin Layer-2 projects aim to scale the main Blockchain that does not operate an Ethereum-like virtual machine and offer programmability features.</p> 
<h2 style="text-align: justify" id="increase-in-bitcoin-transaction-fees">Increase in Bitcoin Transaction Fees</h2> 
<p style="text-align: justify">The rise of Bitcoin Layer-2 coins in the market came amidst an increase in transaction fees on the Bitcoin Blockchain. According to Glassnode, the average transaction fee rose to about 0.0020 BTC after the halving, reaching the highest level since early 2018.</p> 
<p style="text-align: justify">One reason for the increase in fees is the launch of a new protocol called Runes, which allows users to mint tokens and trade. The launch of Runes accelerated speculative trading activities, leading to higher transaction costs.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-342976 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/btc-islem-ucret-coin-turk-com-.png" alt="" width="993" height="537"></p> 
<p style="text-align: justify">According to Ord.io, the total number of <strong>Runes</strong> inscriptions on the Bitcoin Blockchain was 3,700 at the time of writing. These figures are just one of the factors influencing the rise of Layer-2 coins. If transaction fees on Bitcoin continue to rise, this could lead to greater popularity and higher prices for Bitcoin Layer-2s.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-halving-boosts-layer-2-tokens/" data-wpel-link="internal">Bitcoin Halving Boosts Layer-2 Tokens</a></h5>

Bitcoin Halving Boosts Layer-2 Tokens

Table of Contents

COINTURK NEWS

Другие статьи, опубликованные 22 апр. 2024 г.

Market Expert Predicts New Paradigm For Bitcoin: ‘Days Under $100,000 Numbered’

Cryptocurrency Markets Experience Shift in Investment Dynamics

SHIB price set to explode? Shiba Inu raise $12M for new blockchain

Choosing a Crypto Wallet in 2024: What Variables To Consider

Shiba Inu Capitalizes on Bitcoin Halving

Is Tron’s Justin Sun Behind the Massive $405M Ethereum (127,388 ETH) Purchase Since April 8?

Join our free newsletter for daily crypto updates!