The Value of Bitcoin Layer 2 TVL Exceeds $2 Billion

  • With increased activity, Bitcoin Layer 2 networks and sidechains are drawing significant inflows.

The total value locked (TVL) of the bitcoin scaling solutions market has increased by 105% over the last 30 days.

In the past month, Bitlayer’s iTVL has increased 720% to $250 million. At an all-time high TVL of $1.14 billion, Merlin Chain, the largest Bitcoin L2, is likewise at this point.

Although there aren’t any obvious reasons for the surge in activity, Bitlayer and Merlin Chain are both conducting incentive schemes right now.

On the other hand, on June 12, Merlin Chain announced the launch of its Onchain Summer incentives campaign. The program will run until July 5 and will award 3 million $MERL tokens.

The fully diluted value (FDV) of $MERL, which was launched on April 19, has decreased by 65% despite the ecosystem’s expansion.

Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

Author: Puskar Pande

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