Post-Halving STX Coin and These 2 Altcoins Exceed Bitcoin!

The dust of Bitcoin's halving has not yet subsided, but a new trend is emerging that could reshape the outlook of the leading cryptocurrency. While Bitcoin itself has experienced a modest price increase, tokens such as STX coin associated with Bitcoin Layer 2 solutions have been on the rise, outpacing BTC. This superior performance comes amid a significant increase in transaction fees on the Bitcoin blockchain, a problem that Layer 2 solutions aim to overcome. Let's dive deeper into this unexpected development and discover what it means for the future of Bitcoin.

Layer-2 coins: STX coin, ELA and SAVM featured

Tokens such as STX (Stacks), ELA (Elastos) and SAVM (SatoshiVM) have witnessed impressive gains since the halving event on April 20. STX the leader of the pack increased by about 20%, while ELA and SAVM rose by 11% and 5%, respectively. This is in stark contrast to the Bitcoin's 4.7% rise. This increase in Layer 2 tokens highlights the growing investor interest in solutions that address the scalability limitations of the Bitcoin blockchain, Bitcoin Layer 2 projects run on top of the main chain, processing transactions off-chain to increase speed and reduce fees.

What's next?

As reported in Kriptokoin.com, Runes allows users to "scrape" and mint tokens directly on the Bitcoin blockchain. The launch of this protocol sparked a frenzy of activity, with speculators rushing to mint tokens and trade meme coin, resulting in increased network traffic and skyrocketing fees.

Bitcoin transaction fees. Source: GlassnodeThe superior performance of Layer 2 tokens shows that investors are increasingly looking for ways to interact with the Bitcoin ecosystem without being subject to the limitations of the main chain. The recent increase in wages further strengthens this argument. As the adoption of Bitcoin increases, transaction fees are likely to remain volatile, potentially hindering mainstream usability. Layer 2 solutions offer an attractive alternative by providing faster transactions at lower costs.

While it's too early to predict a definitive change, the post-halving performance of layer 2 tokens paints an intriguing picture. As scalability concerns continue to grow, layer 2 projects may emerge as a crucial element in ensuring the long term viability of Bitcoin. The success of these projects will depend on their ability to deliver efficient scaling solutions while maintaining the core security principles of the Bitcoin network.

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