dogwifhat (wif) 
After the recent Bitcoin halving event, three BTC layer 2 protocols have shown impressive performance compared to the leading cryptocurrency. Bitcoin (BTC) is currently trading at over $65,000, with a 2.9% gain in the past 24 hours, according to CoinGecko data. While short-term price fluctuations are common post-halving, historical data suggests a parabolic run for Bitcoin in the mid to long term.
In the last 24 hours and over the past week, protocols built around major blockchains have shown higher gains than BTC itself. Among the five BTC L2 solutions listed by CoinGecko, three tokens have stood out with a combined value of over $4 billion.
1. **SatoshiVM (SAVM):**
SAVM is a BTC zero-knowledge rollup compatible with the Ethereum Virtual Machine (EVM). It uses native BTC as gas fees and enables the issuance of assets, dapps, and solutions within Bitcoin’s ecosystem. SAVM has surged 12% in the last 24 hours and returned over 17.9% in the past week.
2. **Elastos (ELA):**
Elastos aims to enhance BTC efficiency and scalability with its L2 solution, BeL2. Built using SmartWeb technology, BeL2 facilitates smart contracts on Bitcoin. ELA holders gained 5.5% in 24 hours and 3.6% in the past week.
3. **Stacks (STX):**
Stacks has shown a daily growth of 5.4% and a weekly increase of 10.6%. The protocol supports dapp development and on-chain settlement on Bitcoin. Stacks claims to unlock around $500 billion in BTC capital through its direct settlement mechanism.
These BTC layer 2 tokens have demonstrated strong performance post-halving, outperforming Bitcoin itself. It is essential for investors to keep an eye on these protocols as they continue to innovate and grow in the cryptocurrency space.
