Bitcoin

Stacks

<ul><li>STX leads the market with a 20% increase as Layer 2 tokens significantly outperform Bitcoin following the network&#39;s scheduled halving, which reduced mining rewards.</li><li>The recent Bitcoin halving has resulted in a sharp increase in transaction fees, reaching the highest rate since early 2018, spurred by the introduction of the Runes protocol.</li><li>Other Bitcoin Layer 2 tokens, including ELA and SAVM, have also shown robust performance gains, enhancing transaction scalability and speed.</li></ul>Bitcoin Layer 2 tokens have demonstrated remarkable performance following the latest Bitcoin halving event, which took place early on Saturday. The halving, a scheduled reduction in the mining reward, decreased the number of Bitcoins generated per block from 6.25 BTC to 3.125 BTC.Per data from CoinGecko, <a href="https://www.coingecko.com/en/coins/stacks" rel="noopener noreferrer nofollow">STX</a>, the primary token of the Stacks network—a prominent Bitcoin Layer 2 solution—has seen a significant increase of nearly 20% to $2.87. This surge positions STX as one of the top performers among the leading 25 cryptocurrencies over the past 24 hours, according to <a href="https://velodata.app/" rel="noopener noreferrer nofollow">Velo Data</a>. Other tokens associated with Bitcoin’s Layer 2 solutions, including Elastos’ ELA and SatoshiVM’s SAVM, also posted gains of 11% and 5%, respectively.These projects are designed to enhance the scalability and speed of transactions on the Bitcoin blockchain by processing transactions off the main chain. In comparison to these layer 2 solutions, Bitcoin only saw a surge of just over 4.7% to a value of $66,300<a href="https://cryptotale.org/layer-2-tokens-surge-following-bitcoin-halving-stx-up-by-nearly-20/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Layer 2 Tokens Surge Following Bitcoin Halving; STX Up by Nearly 20%

CryptoTale

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