In just two days, an significant event called the Bitcoin halving is set to occur within its community. This event could trigger the start of a new bull market, bringing renewed interest towards alternative crypto solutions at Layer 2 for purchasing.
Among the listed options – Stacks (STX), MAP Protocol (MAPO), Elastos (ELA), and SatoshiVM (SAVM) – these projects distinguish themselves as attractive investments for those looking to benefit from the post-halving surge in Bitcoin’s market. Each of these platforms brings innovative solutions to enhance Bitcoin’s scalability and functionality, potentially leading to significant returns.
1. Stacks (STX)
Stacks (STX), an innovative new layer built on Bitcoin, is revolutionizing the way smart contracts and decentralized apps (DApps) interact with Bitcoin as their foundation asset. This development enables transactions to be settled on the Bitcoin network. At present, STX’s price has taken a dip, dropping to $2.30, representing a 3% decrease in value within the last day.
Bitcoin, the leading decentralized cryptocurrency with a robust and stable market value of over $500 billion, can now expand its capabilities through Stacks. This new platform allows Bitcoin to be utilized for settlements in decentralized applications (DApps), attracting significant growth within the Stacks ecosystem. Notably, this growth has been swift and noteworthy, particularly in terms of Total Value Locked (TVL).
According to DefiLlama’s most recent data, Stacks has set a new record with $133.94 million in total value locked, making it a top contender among Bitcoin layer 2 solutions for investors looking to capitalize on the bullish market climate in 2024.
2. MAP Protocol (MAP)
The MAP Protocol is an innovative Layer 2 solution on the Bitcoin network and a decentralized, multichain platform. It combines lightweight clients with advanced zero-knowledge (ZK) technology. The main goal of MAP is to improve communication and compatibility between different blockchains.
Currently, MAP Protocol is priced at $0.0255, marking a significant gain of over 10% in the past day. This makes it an attractive investment prospect for the predicted bull market in 2024. On CoinMarketCap, it holds the position of number 398 with a market value of $110 million.
3. Elastos (ELA)
Elastos (ELA) is a platform aiming to create the next version of the internet, powered by blockchain. Elastos introduces an innovative Layer 2 solution called BeL2. This technology, based on SmartWeb, alters Bitcoin transactions. Currently, Elastos is priced at $3.20, registering a slight increase of 0.23%. Its ranking on CoinMarketCap is 503rd, with a market capitalization of $70 million.
Elastos plans to improve the functionality and capacity of the Bitcoin network by incorporating SmartWeb technology into their Layer 2 solution called BeL2. This move enables the use of smart contracts, thereby expanding Bitcoin’s capabilities and enabling better utilization of staked assets. Essentially, this endeavor creates a more intelligent economic structure for Bitcoin.
4. SatoshiVM (SAVM)
SatoshiVM (SAVM) presents a decentralized solution for ZK Rollups in Layer 2, which works harmoniously with the Ethereum Virtual Machine (EVM) and uses native Bitcoin (BTC) for transaction fees. This groundbreaking platform brings together EVM and Bitcoin networks, enabling the emission of assets and development of apps within the Bitcoin community.
At present, the price of SatoshiVM is at $4.74, representing a slight decrease of 0.89% in the past 24 hours. With a market cap of $33.18 million and ranking at number 2551 on CoinMarketCap, this token has managed to keep its value above $4, even amidst market instability. This consistency makes SAVM an intriguing investment opportunity for the projected market growth in 2024.
Bottom Line
With the Bitcoin halving approaching, Stacks, MAP Protocol, Elastos, and SatoshiVM offer intriguing possibilities for investors. These Layer 2 projects aim to boost Bitcoin’s capabilities following the halving and are poised to make substantial impacts during the anticipated crypto market surge in 2024.
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2024-04-17 15:44