{"id":13619,"date":"2024-02-28T23:45:15","date_gmt":"2024-02-28T23:45:15","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=13619"},"modified":"2024-02-28T21:01:12","modified_gmt":"2024-02-28T21:01:12","slug":"bitcoins-layer-two-coins-on-fire","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoins-layer-two-coins-on-fire\/","title":{"rendered":"Bitcoin &#8216;s Layer 2 Coins On Fire"},"content":{"rendered":"<p><strong>Bitcoin\u2019s layer 2 tokens,<\/strong> have reached double digits as BTC hits its highest level in 25 months. Tokens for Bitcoin-focused smart contract and scaling platforms like <strong>Stacks and RIF<\/strong> are benefiting from the recent Bitcoin rally. These Bitcoin scaling tokens and BRC-20 tokens performed better than the broader crypto markets on Monday and even managed to reach their highest level in 25 months. Bitcoin Layer 2 network tokens like Stacks (<a href=\"https:\/\/coinengineer.net\/blog\/will-stx-price-go-up-more-analysis\/\">STX<\/a>) and RSK Infrastructure Framework (RIF) have made double-digit gains in the midst of the general crypto rally.<\/p>\n<p><strong>Stacks,<\/strong> known as a Bitcoin-focused smart contract platform, rose to $3.21, a 30% increase from its intraday low of $2.44 on February 27, according to CoinGecko. It has doubled its price in the last 30 days. This big move is near its all-time high of $3.39 in December 2021, indicating a 9% increase. According to social intelligence company Lunar Crush, Stacks experienced significant increases in social activity last year. With the increasing interest in Bitcoin layer-2 projects, there was a significant increase in activity and social metrics, with social interactions increasing by nearly 16,000%.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p dir=\"ltr\" lang=\"en\">Which asset has seen the largest increase in social activity over the last year? One of the strongest has been <a href=\"https:\/\/twitter.com\/search?q=%24STX&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$STX<\/a>. With excitement about <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Layer 2s increasing, so has social activity for <a href=\"https:\/\/twitter.com\/Stacks?ref_src=twsrc%5Etfw\">@Stacks<\/a>.<\/p>\n<p>Social interactions are up nearly 16,000% with activity accelerating as\u2026 <a href=\"https:\/\/t.co\/xPSJ8JyTCI\">pic.twitter.com\/xPSJ8JyTCI<\/a><\/p>\n<p>\u2014 LunarCrush (@LunarCrush) <a href=\"https:\/\/twitter.com\/LunarCrush\/status\/1762272479459078208?ref_src=twsrc%5Etfw\">February 27, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>The native token of the RSK Infrastructure, RIF,<\/strong> rose to $0.242, a 25% increase from its intraday low of $0.193, before experiencing a slight pullback. The Rootstock Infrastructure Framework is a service layer built on top of the Rootstock blockchain, which brings smart contract capabilities to Bitcoin. The platform also allows the deployment of decentralized applications, or DApps, without compromising Bitcoin&#8217;s core principles.<\/p>\n<p>According to DefiLlama, <a href=\"https:\/\/rootstock.io\/\" target=\"_blank\" rel=\"noopener\">Rootstock<\/a> holds just over half of the total value locked in all Bitcoin sidechains, which amounts to approximately $161 million. Stacks has a total value locked (TVL) of $138 million, or about 43%. Other Bitcoin-related scaling and smart contract tokens, including MAP, the native token for Bitcoin Layer2 peer-to-peer omni-chain MAP Protocol, also performed well. According to CoinGecko, MAP reached $0.035, a 16% increase in early trading on February 27.<\/p>\n<p>BRC-20 tokens also appear to be pumping. Tokens including MUBI, TRAC, INSC, and others such as PEPE and MEME, increased by at least 20% during the day. Meanwhile, Bitcoin reached its highest price since December 2021 and hit $56,700 in early trading on February 27. The asset has since slightly retreated, trading at $55,684 at the time of writing.<\/p>\n<hr \/>\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>\u00a0 ,<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates instantly.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s layer 2 tokens, have reached double digits as BTC hits its highest level in 25 months. Tokens for Bitcoin-focused smart contract and scaling platforms like Stacks and RIF are benefiting from the recent Bitcoin rally. These Bitcoin scaling tokens and BRC-20 tokens performed better than the broader crypto markets on Monday and even managed<\/p>\n","protected":false},"author":1,"featured_media":13618,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[61,2213,466,4627,3399],"class_list":["post-13619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bitcoin","tag-meme","tag-pepe","tag-rif","tag-stx"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin &#039;s Layer 2 Coins On Fire - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Bitcoin &#039;s Layer 2 Coins On Fire! 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