Traders are investing millions of dollars in the prelaunch layer 2 to make the maximum profit anticipated in Bitcoin Halving history. This pre-launched layer 2 is very advanced, as it is not even listed on any exchange, still, more investors are investing in it because its move value is higher than Ethereum’s Optimism, Arbitrum, Base, or Blast
Layer 2 Blockchain: Fast Transactions Amid Bitcoin Halving
A second layer of blockchain is different from conventional blockchains; the purpose of this blockchain is to speed up the transaction process. It saves users money through decentralization.
A specific debate is set for what specifically layer 2 is. Different blockchains define it differently, some say it is layer 2 because it has separate node network, security nodes, and proprietary tokens.
Most of the crypto participants call it layer 2, not because of its legacy like Omni, but because of its advanced formation and modern side chains like Ethereum Optimism, or Blast.
Ethereum only supports advanced Turning complete smart contracts, while talking about Bitcoin, this coin doesn’t have a large number of depositors on layer 2. The most advanced way of measuring the amount of layer 1 deposited on layer 2 is TVL.
Layer 2 has attracted $3 billion of Bitcoin through this merit system. At the same time, comparing $2.5 billion on Ethereum’s Arbitrum, $1.5 billion on Ethereum’s Base, $838 million on Ethereum’s Optimism, or $1.4 billion on Ethereum’s Blast.
After the launch of Ordinals, Bitcoin started building tools for layer 2, and although it supports many simple tools like BRC-20 meme-coins, it has been at its pace in the last few weeks.
Layer 2 initially gained popularity due to its association with Ordinals. During the Bitcoin halving event, speculators became interested in the platform because it promised to accommodate Runes post-halving. Runes is a fungible token protocol developed by the well-known founder of Bitcoin Ordinals.
Runes, coin collections, parties, and other events have made this halving a bit expensive. Layer 2 TVL statistics and seven-figure bids for a single block of transactions determine the potential for Bitcoin’s halving to become the most expensive day for investors in cryptocurrency history.
