The bull market will return soon. Honest it will. And look at these 2 charts. A big Layer 1 earned a huge 1924% in the last bull run. But not to be outdone, one of its Layer 2 solutions did EVEN better earning 7200%.
Who am I talking about? Ethereum and Polygon. Polygon represents just one of the huge opportunities that Layer 2 solutions bring when the bull comes back. They often suffer more than Layer 1s in bear markets and do better than Layer 1s in bull markets. Which Layer 2’s altcoins are we loading up on for this next bull run? Stick around and find out.
Our thesis is that in the next bull market, layer 2 solutions will grow faster than many Layer 1 projects. We’ve seen this huge growth before and these are projects that are growing even in this tough market we’ve had for the last 18 months.
So we can’t talk about huge potential Layer 2’s without talking about Arbitrum. Arbitrum isn’t only the biggest, most publicized airdrop of this year and of this bear market. I know many of you qualified and also many of you didn’t.
📲 Exploring the Arbitrum Ecosystem With Cielo.
🔎 Learn how to keep track of Arbitrum onchain activity.https://t.co/kWyQ0bESoi
— Cielo – Track 250 wallets (@CieloFinance) July 10, 2023
Well now is a great time to start building your position in ARB. After that fund dump-off on a Friday night a couple of weeks ago, the price of $ARB dipped below $1. Now, it’s at $1. That puts its market value at $1.2 billion and as the #38 project by market value according to CoinGecko.
We feel like that’s undervalued. Arbitrum is emerging as a leader in a few categories:
- Perp DEXes
- NFT Gaming on ETH
Arbitrum is the highest-grossing L2 in fees. And they are the 4th biggest DeFi chain by TVL. Only Ethereum, Tron, and BNB Smart Chain are higher. In a short time, they have over $2 billion in TVL. That’s more than Polygon, Optimism, or Avalanche.
Arcton is pioneering the tokenization of startup equity, & this partnership will enable on-chain liquidity for real-world startup shares.
— Camelot (@CamelotDEX) July 7, 2023
Their protocols are getting more volume by the day. GMX, which is arguably the flagship protocol of the network, is the leading perp DEX in fees. It’s also 9th overall and the #5 among all protocols that aren’t their own chains like ETH or Tron. Which L2 project is your favorite? Which one do you use the most? Let us know in the comments below.
You knew we weren’t likely to do a video here on best Layer 2’s and not include Polygon, right? As you know by now, we have a few at Altcoin Buzz who prefer to use Polygon’s network to ETH, any other Layer2s, or any other EVMs. It’s just smooth to work with.
1/ Today, the next technical proposal of Polygon 2.0 is unveiled:
POL, the upgraded token of the Polygon protocol! 💫
POL is the next generation native token, designed to secure, align and grow the Polygon ecosystem.
Watch the video to get an idea how cool it is, then 🧵 pic.twitter.com/Gn7KcHpWEY
— Polygon (Labs) (@0xPolygonLabs) July 13, 2023
The number of partnerships Polygon has and continues to build keeps growing. It seems like it never stops. As I’ve said before, their business development team is the envy of the industry. They seem to close every huge legacy Web 2 business that matters and wants to go into Web3.
But there’s more. They were doing much better in this bear market than most projects both on building and on price. But since MATIC hit $1.20 in early April, their price has been cut in half to 60c. The huge Friday night alt selloff thanks to a fund closing down helped push the price of many alts lower including Polygon.
user-owned digital identity 💥 interoperability of 860+ dApps
— Polygon (Labs) (@0xPolygonLabs) July 13, 2023
Prices have not been this low for Polygon in a little over a year. If you feel like you missed the bus on this one, you are getting another chance. Don’t miss it.
BRC-20’s. Ordinals. NFTs on Bitcoin. Memecoins on Bitcoin. You have to have been living under a rock to not see what’s been going on with crypto’s hottest trend. And after Bitcoin, who benefits the most from this trend? It’s Stacks. Bitcoin’s top Layer 2.
Building on Bitcoin is back 🧡
🟧 Ordinals & BRC-20 are thriving
🟧 Layer 2 scalability solutions
🟧 Bitcoin DeFi on L2s
🟧 BNS Names
👇 Watch Bitcoin builders discuss the Bitcoin economy live
📆 Check the full schedule of speakers in the thread belowhttps://t.co/evnuU3vxD9
— stacks.btc (@Stacks) July 13, 2023
First, almost all Ordinal compatible wallets are compatible with or built by teams that are a part of Stacks. You can’t use a regular Bitcoin wallet for Ordinals. We’ve explained why in a few of our videos.
But in short, the Taproot upgrade is the reason why. Stacks wallets are already enabled for this. So you can move between Ordinals, Bitcoin, and Stacks seamlessly in most wallets.
Stacks’ influence will only grow as Ordinals do. And not only that, people will discover other services on Bitcoin and Stacks like the Bitcoin Name Service. There you can use Stacks to reserve a .btc domain name for your own use.
Decentralized Finance needs Bitcoin to achieve mass adoption 🧡
sBTC will enable all Bitcoin DeFi use cases 👇 pic.twitter.com/7IM8wJ4EMH
— stacks.btc (@Stacks) July 12, 2023
Plus, despite bucking the bear market trend, the STX token is doing 2x from its bear market low of 20 cents. It’s still well off its high of $3.39. At 68 cents now, Stacks is a bargain when you see all the growing influence it has on the Bitcoin ecosystem.
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