BENGALURU – “Layer 2” cryptocurrencies native to projects built on top of “layer 1” blockchains such as Bitcoin and Ethereum – have found a new lease of life after a year in the doldrums, buoyed by a rising crypto tide.
Anticipation of easing borrowing costs in the United States and a possible US spot bitcoin exchange-traded fund have lifted crypto prices since the summer, with market bitcoin gaining by about half since the end of August.
Tokens associated with layer 2 projects – which typically aim to speed up…
