- Arbitrum is among the best-performing L2 blockchains, outpacing competitors in total value locked and fees.
- Polygon remains a dominant player through its performance and cost-effectiveness.
- Top Bitcoin L2 blockchain Stacks is also one to follow.
As the bear market gradually fades, altcoins are bouncing back, and Arbitrum, Polygon and Stacks could be leading the pack.
Arbitrum’s launch was one of the biggest ever seen in the crypto space. Its airdrop drew even more attention, with social media abuzz with hype about the token. Since its launch, Arbitrum has managed to perform to expectations.
The layer 2 blockchain is one of the top choices for DeFi, gambling, and NFT gaming on Ethereum. Not only that, it is also the highest-grossing L2 blockchain in fees. According to data from CoinMarketCap, Arbitrum (ARB) is currently trading at $1.15.
The blockchain has managed to amass over 2 billion dollars in total value locked (TVL), more than Polygon, Optimism, and Avalanche. It is also the fourth biggest DeFi chain by TVL, behind Ethereum, Tron, and BNB Smart Chain.
Polygon is another blockchain getting it right. The blockchain is a popular choice among users due to its smoothness, functionality, and ease.
In addition to that, the Polygon team has managed to secure partnerships with top players in and out of the crypto ecosystem. During the bear market, Polygon still managed to perform in terms of price and development.
Even though Polygon’s MATIC token is still far below its all-time high of $3, it has shown a decent performance in recent weeks. At the time of writing, the token was trading at $0.681, a 2.86% decrease in the last 24 hours.
Bitcoin Ordinals are one of the major additions to the crypto ecosystem this year. Undoubtedly, Bitcoin Ordinals will play an active role in the ecosystem’s future. Stacks, for example, one of the biggest Layer 2 blockchains on Bitcoin, enables users to hold Bitcoin Ordinals.
Data from CoinMarketCap show that Stacks’ native STX token is sitting at $0.6214, a 4.42% increase in the past 24 hours at the time of writing.
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