5 Layer 2 Crypto To Buy Aiming 100X After Ethereum Dencun Upgrade

The Ethereum network’s latest upgrade, named Dencun, took place on 13 March- 2023, implementing EIP-4844. This update introduces blob transactions, type-3, enhancing how Layer 2 solutions integrate with Ethereum.

Currently, Ethereum’s price has soared past $4,000, signaling a positive market sentiment. In light of this upgrade, investors have a pallet of 5 five Layer 2 cryptocurrencies with the potential for substantial growth: Polygon (MATIC), Immutable X (IMX), Loopring (LRC), Skale (SKL), and Brock (BROCK).

1. Polygon (MATIC)

Polygon (MATIC) serves as an essential interoperability and scaling framework that enhances Ethereum’s capabilities. This innovative network supplements Ethereum without altering its fundamental layer. By deploying a network of sidechains, Polygon significantly enhances Ethereum’s scalability and lowers transaction costs, a notable benefit for its users.

Polygon price chart

In recent developments, MATIC’s value has experienced a remarkable uptrend, recording a 40% increase over the past month. Currently, the value of Polygon stands at $1.23, showing a notable upswing of 3.39% in the last 24 hours alone. MATIC is among the leading 20 digital currencies by market capitalization, now $12.12 billion.

This momentum suggests a potential for MATIC to experience exponential growth in the forthcoming bullish cycle.

2. Immutable (IMX)

Immutable (IMX) emerges as Ethereum’s premier layer-two NFT scaling solution, overcoming challenges like scalability issues, suboptimal user experiences, market illiquidity, and sluggish development times. This platform revamps the way Ethereum’s inherent constraints are approached, offering a more streamlined and efficient framework for NFT transactions and applications.

Recently, Immutable has experienced a significant price rally, soaring past $3.50. This uptick marks a 17% increase in just a week and an impressive 20% growth over the last month. Amidst this upward trajectory, there’s speculation that IMX could escalate by 100x, reaching new unprecedented highs.

3. Loopring (LRC)

Loopring (LRC), a digital token based on Ethereum for developing decentralized exchange platforms, has shown remarkable growth. With a bullish momentum, the token has soared over 77% in the past month, and in the last week alone, it has climbed by 25%. This performance positions it as a top investment choice following the Ethereum Denceun upgrade.

At present, LRC’s value is at $0.4323, reflecting a 2.18% increase within the last 24 hours amidst a slight market uptick. Ranked 151st by CoinMarketCap, Loopring’s market value has reached $590 million.

4. Skale (SKALE)

Skale (SKALE), a pioneering open-source and decentralized platform, is revolutionizing the blockchain landscape. This innovative project offers developers the tools to build their own blockchains and decentralized apps directly within Ethereum’s vast ecosystem.

Today, SKALE’s value stands at $0.1096, marking an impressive 8.21% increase in just 24 hours. SKALE occupies the 154th spot on CoinMarketCap, with a market valuation of $568 million. Over the past week, the cryptocurrency has climbed by 7%, and its annual growth rate has skyrocketed by more than 183%. Following the Ethereum Dencun upgrade, SKALE has emerged as a top altcoin choice for investors.

5. Bitrock (BROCK)

Bitrock (BROCK), an Ethereum sidechain leveraging IBFT 2.0 Proof of Authority (PoA), boasts almost negligible native transaction fees. This blockchain stands out for its high-speed, secure, and scalable framework. Additionally, it introduces an innovative decentralized exchange (DEX) mechanism.

BROCK price chart

Presently, Bitrock’s value has hit $0.2824, marking an impressive 15.55% increase today. Its position in the CoinMarketCap rankings has climbed to 860, backed by a $25 million market capitalization. Over the last week, BROCK has experienced a remarkable 134% upturn, showcasing significant momentum.

Bottom Line

The Ethereum Dencun upgrade has significantly enhanced the performance and integration capabilities of Layer 2 cryptocurrencies. Projects like Polygon, Immutable X, Loopring, Skale, and Bitrock are demonstrating robust growth and showcasing their potential for substantial returns.

Related Articles

• 4 Shiba Inu Coin Rivals Shaping The Meme Coin Frenzy In 2024
• Why Is Ethereum Dencun Upgrade Is Important?
• Crypto Price Prediction: Top Layer 2 Tokens to Watch Ahead of Ethereum Dencun Upgrade

Source