The short-term price action following BTC’s halving is not unusual compared to previous cycles. Historical data shows volatility and price swings leading to the quadrennial events, followed by a parabolic Bitcoin run in the mid to long term.
However, previous increases have hardly ever been in a straight line. Three tokens stood out from five BTC L2 solutions categorized by CoinGecko, which holds over $4 billion in value.
The protocol uses native BTC as gas fees and allows builders to issue assets, dapps, and solutions linked with Bitcoin’s ecosystem. SAVM surged 12% over the past day and returned more than 17.9% to holders in the last week.
The protocol aims to bolster BTC efficiency and scalability by providing its L2 dubbed BeL2, a layer 2 offering built using SmartWeb technology to power smart contracts on Bitcoin. According to the team, Stacks supports dapp developments and on-chain settlement on Bitcoin.