Top 5 Layer 2 Tokens by Market Capitalization

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Bulls Hegemony in CELO ,Paves Stage for Further Price Surge
  • Polygon’s MATIC leads Layer 2 resurgence with a $5.26 billion market cap.
  • Mantle (MNT) surged 7% in 24 hours, hitting a $1.35 billion market cap.
  • Layer 2 tokens are on the rise as bullish momentum sweeps the market.

In a robust show of bullish momentum, Layer 2 tokens are seeing a resurgence in market capitalization, spearheaded by Polygon (MATIC). Despite a brief bearish dip, MATIC bounced back impressively, reaching a 24-hour high of $0.5738.

This resurgence is no coincidence since it reflects a growing investor interest that catapulted MATIC’s market cap to $5.26 billion, marking a 1.52% uptick. The trading volume soared by 19.59% to $352.7 million, showcasing robust investor engagement.

MATIC/USD 24-hour price chart (source: CoinStats)

Following the bullish stride, Mantle (MNT) notched a market cap of $1.35 billion, a 6.37% surge. Moreover, its 24-hour trading volume skyrocketed by 88.73% to $48.3 million. The buoyancy didn’t stop there, with bulls propelling the MNT price to a 7-day high of $0.4193, reflecting strong market momentum. The price now sits at $0.4191, a 7.00% upswing from the previous day’s close.

MNT/USD 24-hour price chart (source: CoinStats)

Bullish Momentum Dominates across Layer 2 Spectrum

On the third spot, Arbitrum (ARB) followed suit with a 3.35% surge in market cap, reaching $1.25 billion. The 24-hour trading volume also witnessed a 22.63% uptick to $181.9 million. Besides, the ARB market saw a bullish takeover, propelling the price to a 30-day high of $0.9814.

ARB/USD 24-hour price chart (source: CoinStats)

Optimism (OP) clinched the fourth spot, with its market cap surging by 5% to $1.16 billion. Significantly, a 40.09% leap in trading volume to $106.7 million highlights growing investor confidence. The price surged to a 4-week high of $1.46, indicating robust buying pressure in the market.

OP/USD 24-hour price chart (source: CoinStats)

Immutable (IMX), although in the fifth spot, showcased strong potential too. Despite a 0.48% dip in market cap to $701.2 million, trading volume rose by 12.56% to $20.7 million. The price action over the last 24 hours shows bullish control, indicating sustained interest and active trading in IMX.

IMX/USD 24-hour price chart (source: CoinStats)

Hence, this recent bullish wave among Layer 2 tokens indicates vibrant investor interest. The substantial surges in market capitalizations and trading volumes across these tokens reflect a healthy, bullish sentiment pervading the Layer 2 spectrum. Moreover, as these digital assets exhibit strong market dynamics, their intrigue augments, hinting at a promising outlook for Layer 2 tokens.

The positive market sentiments around these top Layer 2 tokens significantly boost their market caps and trading volumes. Consequently, with investor interest showing no signs of waning, the bullish trend may continue to dominate, setting the stage for an exciting market trajectory.

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