Bitcoin Layer 2 Coins, STX, ELA, SAVM, Outperform BTC After Halving

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Omkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.

The biggest and most established global hub for everything crypto, blockchain and Web3.The BTC-beating rise comes amid Runes-led spike in transaction fees on the Bitcoin blockchain.since the Bitcoin blockchain's highly-anticipated mining reward halving took effect early Saturday.

Other Layer 2 coins, like Elastos’ ELA token and SatoshiVM’s SAVM, have risen 11% and 5%, respectively, since halving. While Ethereum Layer 2 solutions mainly focus on scaling the Ethereum smart contract blockchain, Bitcoin Layer 2 projects aim to scale and introduce programmability features to the main blockchain, which doesn't operate an Ethereum-like virtual machine.

 

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