Bitcoin scaling tokens and BRC-20 coins experienced significant growth on Monday, surpassing the broader cryptocurrency markets and even Bitcoin itself, despite reaching its own 25-month high.
Tokens for layer-2 networks on Bitcoin, such as Stacks (STX) and RSK Infrastructure Framework (RIF), saw double-digit increases during a wider crypto rally.
Stacks, a smart contract platform focused on Bitcoin, saw a staggering 30% surge from an intraday low of $2.44, peaking at $3.21 in early trading on February 27. This price doubling occurred over the past 30 days, according to CoinGecko.
This substantial increase brings the STX token within 9% of its all-time high of $3.39, achieved in December 2021.
LunarCrush, a social intelligence company, has reported that Stacks has witnessed some of the most significant growth in social activity over the past year. Social interactions have increased by nearly 16,000%, with activity and social metrics rising sharply due to the excitement surrounding Bitcoin layer 2s.
The native token for RSK Infrastructure Framework, RIF, also experienced a surge, gaining 25% from an intraday low of $0.193 to reach $0.242 before a slight retreat.
Rootstock Infrastructure Framework, built on top of the Rootstock blockchain, provides smart contract capabilities to Bitcoin while preserving its core principles. The platform also allows the deployment of decentralized applications (DApps).
According to DefiLlama, Rootstock currently has over half of the total value locked on all Bitcoin sidechains, amounting to approximately $161 million. Stacks holds around $138 million TVL, accounting for approximately 43%.
Other scaling and smart contract tokens related to Bitcoin have also performed well. MAP, the native token for the Bitcoin L2 peer-to-peer omni-chain MAP Protocol, has gained 16% and reached $0.035 during early trading on February 27, according to CoinGecko.
Furthermore, BRC-20 tokens are also experiencing notable price increases. Tokens like Multibit (MUBI), OriginTrail (TRAC), INSC, Pepe (PEPE), and MEME have all surged by at least 20% on the day.
Meanwhile, Bitcoin reached its highest price since December 2021, hitting $56,700 during early trading on February 27. At the time of writing, the asset has slightly retreated and is trading at $55,684.
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