Stacks

Bitcoin

Rootstock Infrastructure Framework

LunarCrush

Lunar

Bitcoin scaling tokens and BRC-20 coins surged on Monday, outperforming the wider crypto markets and even Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) itself&nbsp;despite tapping its own 25-month high.
Bitcoin layer-2 network tokens, such as Stacks (<a href="https://cointelegraph.com/stacks-stx-price-index">STX</a>) and RSK Infrastructure Framework (RIF), made double-digit gains amid a wider crypto rally. 
Stacks, a Bitcoin-focused smart contract platform, skyrocketed 30% from an intraday low of $2.44 to top out at $3.21 in early trading on Feb. 27, doubling its price over the past 30 days, according to CoinGecko.
The big move has pushed the STX token to within 9% of its December 2021 all-time high of $3.39.
Stacks has seen some of the largest increases in social activity over the last year, according to social intelligence company LunarCrush. 
Social interactions are up nearly 16,000%, with activity and social metrics rising sharply, driven by excitement about Bitcoin layer 2s, it noted. 
<blockquote class="twitter-tweet">
 Which asset has seen the largest increase in social activity over the last year? One of the strongest has been <a href="https://twitter.com/search?q=%24STX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$STX</a>. With excitement about <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Layer 2s increasing, so has social activity for <a href="https://twitter.com/Stacks?ref_src=twsrc%5Etfw">@Stacks</a>. Social interactions are up nearly 16,000% with activity accelerating as… <a href="https://t.co/xPSJ8JyTCI">pic.twitter.com/xPSJ8JyTCI</a>— LunarCrush (@LunarCrush) <a href="https://twitter.com/LunarCrush/status/1762272479459078208?ref_src=twsrc%5Etfw">February 27, 2024</a>
</blockquote> 
The native token for the RSK Infrastructure Framework, RIF, has also surged, gaining 25% from its intraday low of $0.193 to reach $0.242 before retreating slightly. 
The Rootstock Infrastructure Framework is a service layer built on top of the <a href="https://cointelegraph.com/news/bitcoin-smart-contract-protocol-rootstock-acquired-by-spin-off-project-rif-labs">Rootstock blockchain</a>, which brings smart contract capabilities to Bitcoin. The platform also enables the deployment of decentralized applications (DApps) without compromising Bitcoin’s core principles.
<a href="https://defillama.com/chains/Bitcoin%20Sidechains" target="_blank" rel="noopener nofollow">According</a> to DefiLlama, Rootstock has just over half of the total value locked on all Bitcoin sidechains, which is around $161 million. Stacks has $138 million TVL or around 43%. 
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-02/f6284f75-a23b-4eb0-9422-b281ae7b5c15.jpg" alt="" title="">
 <figcaption style="text-align: center;">
 TVL on Bitcoin sidechains. Source: DefiLlama
 </figcaption>
</figure>
Other Bitcoin-related scaling and smart contract tokens have also performed well, including MAP, the native token for the Bitcoin L2 peer-to-peer omni-chain MAP Protocol. MAP has gained 16% to reach $0.035 during early trading on Feb. 27, <a href="https://www.coingecko.com/en/coins/map-protocol" target="_blank" rel="noopener nofollow">according</a> to CoinGecko. 
Related: <a href="https://cointelegraph.com/news/bitcoin-layer-2-networks-ethereum">Bitcoin needs layer-2 networks more than Ethereum does</a>
<a href="https://cointelegraph.com/learn/what-is-a-brc-20-token-standard-an-overview">BRC-20 tokens</a> also appear to be pumping. Tokens, including Multibit (MUBI), OriginTrail (TRAC), INSC, Pepe (<a href="https://cointelegraph.com/pepe-price-index">PEPE</a>)&nbsp;and MEME, have all surged at least 20% on the day. 
Meanwhile, Bitcoin hit its highest price since December 2021, reaching $56,700 during early trading on Feb. 27. The asset has since retreated slightly to trade at $55,684 at the time of writing. 
Magazine: <a href="https://cointelegraph.com/magazine/wolf-of-all-streets-world-bitcoin-hits-1m-1-million-hall-of-flame/">Wolf Of All Streets worries about a world where Bitcoin hits $1M: Hall of Flame</a>

Bitcoin L2 tokens surge double digits as BTC notches 25-month high

Cointelegraph

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