According to Techub News, CoinDesk reported that after the Bitcoin block reward was halved, Bitcoin L2 tokens ELA, STX, and SAVM increased more than Bitcoin.
Bitcoin L2 is a solution to the scalability and transaction speed limitations of the Bitcoin native chain. They are built on the Bitcoin native chain and bring scalability by processing transactions outside the main chain.
Additionally, the new protocol Runes allows for tokens to be etched and minted on the Bitcoin blockchain, causing transaction fees to skyrocket.
As of Coindesk’s publication, there are 3,700 Runes etched on the Bitcoin blockchain. These developments illustrate the significant progress that Bitcoin second-layer solutions are making in the market.
