5 Layer 2 Crypto To Buy Now For 2024 Bull Run: Are Tech Savvy Investors Buying?

As the crypto market prepares for a potential bull run in 2024, investors are increasingly focusing on Layer 2 solutions. These solutions are celebrated for their scalability and efficiency, attracting significant attention.

Among the many options, 5 crypto to buy have emerged as the frontrunners: MATIC, OP, ARB, BROCK, and MNT. These tokens capture the market’s attention for their technological advancements and potential to redefine the blockchain landscape.

1. Polygon (MATIC)

Polygon (MATIC) has emerged as a premier platform for Ethereum’s scalability and infrastructure development. MATIC boasted a significant uptick of over 9% in the past week at $0.8877. This rise comes amid a flurry of encouraging developments, captivating investors. The platform’s adoption of an enhanced Proof-of-Stake consensus has notably increased its security measures. Furthermore, deploying over 19,000 decentralized applications (DApps) on Polygon now directly competes with Ethereum’s ecosystem.

MATIC price chart

The platform maintains its appeal with transaction fees that are a mere fraction of those on Ethereum, averaging at just $0.001. While Ethereum continues its struggle to implement sharding for scalability, Polygon remains a sought-after destination for DeFi and Web3 initiatives. Despite this, Polygon remains committed to gradual enhancements even as the digital landscape sees the emergence of Web3 innovations.

2. Optimism (OP)

Optimism, operating as a Layer-Two blockchain over Ethereum, has witnessed a notable rise in its ecosystem and valuation. This growth is propelled by key upgrades and partnerships that bolster the network’s efficiency, attracting a growing number of developers. With an infusion of $300 million in cryptocurrency assets, Optimism is poised to redefine transactional efficiency while upholding Ethereum’s reputable security framework.

Optimism price chart

Market analysts are optimistic about Optimism’s future, forecasting short-term and long-term growth fueled by rising platform utilization and broader adoption. Despite facing market volatility, Optimism has showcased remarkable resilience, surpassing general market trends and highlighting its potential for delivering significant investor returns. Optimism is trading at $3.77. It has experienced a weekly increase exceeding 17%, marking it a prime investment opportunity in cryptocurrency.

3. Arbitrum (ARB)

Arbitrum (ARB), a leading Ethereum layer-two (L2) scaling solution, leverages optimistic rollups to enhance Ethereum’s speed, scalability, and cost-effectiveness. This technology maintains Ethereum’s security and compatibility, with ARB’s price reaching $2.09 and a weekly increase of 13%, positioning it at 39th in the market with a capitalization of $2.65 billion.

Recent data from DeFiLlama reveals a $2.89 billion increase in the Total Value Locked (TVL) on Arbitrum-based. This surge underscores a growing confidence in Arbitrum’s capabilities and an expanding market presence. Furthermore, with on-chain volumes hitting $920 million, Arbitrum has outperformed Solana-based applications, showcasing its robust activity and signaling a promising future amidst the crypto market’s recovery phase.

4. Bitrock

Bitrock emerges as an innovative Ethereum sidechain, utilizing the IBFT 2.0 Proof of Authority (PoA) protocol to offer minimal gas fees. Its high-speed, secure infrastructure stands out and introduces a multichain (DEX) swap feature. This allows for directly trading cryptocurrencies on their native chains, eliminating the need for DEX-specific tokens or gas fees. Bitrock is currently priced at $0.124062, ranked 947th with a market cap of $11 million.

5. Mantle (MNT)

Mantle quickly climbs the ranks among Ethereum’s Layer 2 networks, securing the fourth position in Total Value Locked (TVL) just two months post-launch. An attractive APY of 7.2% evidences this surge in investor interest. In addition, Mantle can handle up to 200 transactions per second due to its high-capacity processing prowess.

This performance positions Mantle as a formidable competitor within the Layer 2 ecosystem, challenging established networks with its efficiency and scalability. Mantle price is trading at $0.7152, with a surge of more than 20% in the past week, making it among the best crypto to buy today.

Bottomline

In conclusion, as the crypto landscape evolves, Polygon, Optimism, Arbitrum, Bitrock, and Mantle are marking their territories as pivotal players in Ethereum’s scaling and infrastructure development. These platforms and solutions highlight the dynamic nature of the crypto market, offering promising avenues for investors and developers alike.

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