Bitcoin Layer-2 Projects Secure Massive Funding Surge in Q2

IconCryptoNewsTerminal Staff01 Aug, 2024

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Bitcoin Layer-2 Projects Secure Massive Funding Surge in Q2

Bitcoin Layer-2 solutions, designed to alleviate the scalability and cost challenges of the Bitcoin network, have attracted a significant influx of investment in Q2 2023. According to a report from Galaxy Digital, these projects raised a total of $94.6 million, marking a substantial 174% increase compared to the previous quarter. This surge in funding highlights the growing interest in Layer-2 solutions as they offer potential ways to improve Bitcoin's transaction capacity and affordability. Notably, Mezo, a cross-chain Layer-2 network, and Bitlayer, a Layer-2 scaling protocol, were among the projects that received notable investments during this period. The increased funding for Bitcoin Layer-2 projects reflects the industry's recognition of the importance of scalability solutions for the continued growth and adoption of Bitcoin.

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