Bitcoin (BTC) has been leading the crypto market rally since late September 2023, with its dominance rising steadily from around 40% in 2022 to over 50% by May 2024.
This surge is largely attributed to the approval of Bitcoin Spot exchange-traded funds (ETFs) in the US, driving increased trading volume on platforms like Bybit.
Consequently, Bitcoin’s popularity is fueling interest in Layer 2 solutions aiming to enhance Bitcoin’s scalability and functionality for faster and cheaper transactions.
Understanding Bitcoin Layer 2
Bitcoin Layer 2 refers to networks closely linked with Bitcoin, designed to improve its scalability, reduce transaction costs, and enable programmability.
These networks operate separately but connect to Bitcoin through bridges or other solutions.
The rise of Bitcoin Layer 2 solutions gained traction in early 2024, particularly with the popularity of projects like Ordinals and Stacks, coinciding with Bitcoin’s outperformance compared to Et
We współpracy z: https://finbold.com/bitcoins-market-dominance-drives-layer-2-popularity/
