ChainCatcher Message, Galaxy Research's latest report reveals the booming growth of the Bitcoin L2 ecosystem in 2024. The number of projects has surged 7 times, with venture capital reaching $447 million, indicating strong market interest.

As of the first three quarters of 2024, Bitcoin L2 projects have secured a total of $174 million in funding, with sidechain projects attracting $105 million of that, while rollups projects received $63 million. In the second quarter, Bitcoin L2 projects accounted for 44% of L2 network venture capital across the entire cryptocurrency industry, a 159% increase from the first quarter.

Galaxy expects that by 2030, the liquidity of Bitcoin L2 networks could reach $47 billion, indicating growing confidence in this sector.