Check Out the Top 5 Layer 2 Tokens That are Currently on the Rise, More Details Here!

Bittime - The price valuation of Layer 2 tokens is currently increasing and is interesting to discuss. To be precise, there are several coins that are able to penetrate the trading market with significant charts.

This article will discuss 5 Layer 2 tokens that are on an ascending chart on March 26, 2024 based on market capitalization from CoinMarketCap.

What are Layer 2 Tokens?

Layer 2 Tokens are native crypto tokens used on Layer 2 networks. Layer 2 networks themselves are protocols built on top of major blockchains such as Ethereum to increase transaction speed and reduce transaction costs.

This network basically helps handle some of the main blockchain activities, making everything run more smoothly.

You could say that the main blockchain is like a biscuit factory, now Layer 2 is like a production line that can increase production output without the need to build a large new factory.

Layer 2 tokens have various functions depending on the network. However, in general its functions can include:

• Paying transaction fees: Since transactions on Layer 2 are usually cheaper than on the main blockchain, these tokens are used to pay those fees.
• Governance: Some Layer 2 networks use tokens for governance purposes, for example to vote on decisions regarding the network.
• Staking: On some networks, tokens can be held (staking) to earn rewards.

Check Today's Crypto Market

5 Layer 2 Tokens Currently on an Upward Chart

1. Polygon (MATIC)

Price: $1.07 USD

1 Hour Change: +0.82%

Market Cap: $10,624,368,504

24 Hour Trading Volume: $435,324,930 USD

24 Hour Change: +5.74%

Change in 1 Week: +12.88%

• Circulating Supply: 9,906,619,724 MATIC
• Maximum Supply: 10,000,000,000 MATIC

MATIC is the native crypto token used on the Polygon network. Polygon is a platform that aims to solve the scalability problem of the Ethereum blockchain. Ethereum itself is known to have slow transaction speeds and high transaction fees. 

How to Buy Crypto

2. Arbitrum (ARB)

Price: $1.75 USD

1 Hour Change: +0.11%

Market Cap: $1,400,742,732 USD

24 Hour Trading Volume: $566,874,395 USD

24 Hour Change: +4.07%

Change in 1 Week: +16.19%

• Market Circulation: 2,653,939,384 ARB
• Total Supply: 10,000,000,000 ARB

Arbitrum (ARB) is a Layer 2 solution for the Ethereum blockchain. Arbitrum aims to address the scalability issues that Ethereum faces, namely slow transaction speeds and high transaction fees.

3. Immutable (IMX)

Price: $3.19 USD

1 Hour Change: +0.42%

Market Cap: $324,700,912 USD

24 Hour Trading Volume: $80,796,064USD

24 Hour Change: +8.34%

Change in 1 Week: +21.88%

• Market Circulation: 1,423,019,954 IMX
• Total Supply: 2,000,000,000 IMX

Immutable X (IMX) is the main project developed by Immutable Pty. Ltd. This is a Layer 2 solution designed specifically for NFTs (Non-Fungible Tokens) on the Ethereum network.

Also read:  What is Privacy Coin? These are the 3 Most Popular Assets!

4. Optimism (OP)

Price: $3.96 USD

1 Hour Change: +0.04%

Market Cap: $448,096,000 USD

24 Hour Trading Volume: $327,823,584USD

24 Hour Change: +3.00%

Change in 1 Week: +28.00%

• Market Circulation: 1,006,141,600 OP
• Total Supply: 4,294,967,296 OP

Check Crypto Prices Today:

Optimism Token (OP) is the native crypto token used on the Optimism network. The Optimism Network (OP) is a Layer 2 (L2) solution built on the Ethereum blockchain.

5. Mantle (MNT)

Price: $0.9528 USD

1 Hour Change: +1.95%

Market Cap: $448,096,000 USD

24 Hour Trading Volume: $254,586,141 USD

24 Hour Change: +10.81%

Change in 1 Week: +17.00%

• Market Circulation: 3,231,662,126 MNT
• Total Supply: 6,219,316,795 MNT

Mantle (MNT) is a Layer 2 (L2) solution built on the Ethereum blockchain. The network aims to address the scalability issues and high transaction fees that Ethereum faces.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.  

Learn  Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

 

Also read:

Xend Finance (RWA) - What Makes Its Price Rise?

Crypto Market Voluptuous: Meme Coin BOME Soars, Bitcoin and Altcoins Drop

ONDO Skyrockets! Reach the Highest Price of All Time Driven by Large Transactions

 

DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.