Bitcoin layer-2 network tokens and BRC-20 coins experienced significant surges on Monday, outpacing the broader crypto markets and even Bitcoin (BTC) itself, which tapped its own 25-month high.
Stacks (STX), a Bitcoin-focused smart contract platform, saw a remarkable 30% surge from an intraday low of $2.44 to a peak of $3.21 in early trading on Feb. 27, marking a doubling in price over the past 30 days.
This surge has brought the STX token close to its December 2021 all-time high of $3.39.
Social activity around Stacks has surged, with social interactions increasing nearly 16,000% over the last year, driven by excitement about Bitcoin layer 2s, according to LunarCrush.
The native token for the RSK Infrastructure Framework (RIF), another Bitcoin layer-2 network, also surged by 25% from its intraday low of $0.193 to $0.242 before a slight retreat.
RSK Infrastructure Framework provides smart contract capabilities to Bitcoin and allows the deployment of decentralized applications (DApps) without compromising Bitcoin’s core principles.
Other Bitcoin-related scaling and smart contract tokens, including MAP (the native token for Bitcoin L2 peer-to-peer omni-chain MAP Protocol), also showed positive performance, with a 16% gain to reach $0.035 during early trading on Feb. 27.
BRC-20 tokens, such as Multibit (MUBI), OriginTrail (TRAC), INSC, Pepe (PEPE), and MEME, surged at least 20% on the day.
Bitcoin reached its highest price since December 2021, hitting $56,700 during early trading on Feb. 27, before slightly retreating to trade at $55,684 at the time of writing.
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