5 Greatest Layer 2 Crypto to Purchase Now – January 2022

Layer-2 blockchain options have turn out to be extra widespread previously yr, with their promise of providing elevated pace and cheaper transaction prices. This is the reason many buyers are on the lookout for the highest layer-2 cash to purchase proper now.

With the market hoping to get out of its bearish run, there will certainly be lots of consideration positioned on these layer-2 blockchain cash.

1. Polygon (MATIC)

The primary possibility on our checklist of the highest layer-2 cash to purchase is MATIC – the native token for Polygon. Previously often known as the Matic Community, Polygon is a blockchain scalability platform that facilitates the event and connection of blockchain networks suitable with Ethereum. It payments itself as Ethereum’s “Web of Blockchains,” aggregating scalable options for a multi-chain Ethereum ecosystem.

For many crypto trade insiders, Polygon’s MATIC asset doesn’t want any introduction. The asset has turn out to be more and more widespread over the previous yr, thanks in no small half to the good points in its value.

The asset has many promising initiatives; most necessary is the truth that the platform is now turning into a hub for non-fungible token (NFT) exercise. Simply this week, the Related Press launched a brand new NFT market on Polygon, the place the publishing home’s photographers would be capable of promote a few of their iconic photos as NFTs.

Information from Dune Analytics confirmed that the variety of NFTs bought on Polygon hit an all-time excessive of two million in December 2021. That marked a 60% improve over the NFT volumes recorded in November, and December additionally marked the third consecutive month of elevated community exercise on Polygon.

The sensible cash will wager on NFT volumes on Polygon to surge even greater over time. If not for something, the truth that the Related Press is promoting NFTs right here is bound to attract site visitors. This implies that there’s a lot of potential for MATIC to develop in the long run.

2. OMG Community (OMG)

Best Layer 2 Crypto to Buy

Subsequent on our checklist of the highest layer-2 cash to purchase is OMG. The coin is the native token for the OMG Community – previously often known as OmiseGo.

OMG Community describes itself as the primary production-grade layer-2 Ethereum calling answer. Its objective is to make it simpler for folks to maneuver cash and digital belongings on the Ethereum blockchain, with larger speeds and decrease transaction prices – whereas additionally sustaining optimum safety.

OMG Community operates on the idea that almost all digital funds happen at the moment by way of single apps. Which means that customers aren’t seamlessly transferring cash between platforms. OMG Community seems to leverage its infrastructure to commerce belongings on customers’ behalf, sourcing liquidity for trades and transactions on the Ethereum blockchain.

With the broader crypto market trying to get out of its bearish rut, OMG seems to be one of many cash main the cost. The asset’s value of $5.96 is up 14.15% previously 24 hours, beating the market’s restoration of 4.32%.

OMG boasts a market cap of $852 million, with a $405 million buying and selling quantity previously 24 hours.

3. Loopring (LRC)

Best Layer 2 Crypto to Buy

Whereas it won’t be among the many large-cap cash, Loopring’s LRC token is packing fairly a punch proper now.

LRC powers Loopring is a layer-2 software program working on Ethereum that goals to help the creation of latest crypto-asset exchanges. Loopring has made some daring claims, together with the truth that its platform will enable exchanges to construct on it and sidestep the problems confronted by Ethereum-based decentralised exchanges (DEXs) – notably, gradual transaction speeds and excessive charges.

Loopring makes use of zero-knowledge rollups (or zkRollups) to permit its exchanges to optimise commerce settlements. As a substitute of settling trades on the Ethereum blockchain, zkRollups permits Looping-based exchanges to deal with these duties elsewhere.

Though not the loudest of layer-2 protocols proper now, Loopring has been doing fairly nicely over the previous few months. The platform’s LRC token was just lately added to the buying and selling platform Public, and there was some latest hype surrounding a attainable partnership with GameStop. Nevertheless, nothing has materialised on that entrance.

Loopring just lately introduced that its platform can now enable customers to mint NFTs for simply $2.50 – about 100 occasions cheaper than minting on Ethereum. With NFTs nonetheless being a hot-ticket merchandise available in the market, there’s lots of potential for Loopring.

4. Bancor (BNT)

BNT is a kind of tokens that you simply don’t hear from each day. Nevertheless, it has achieved sufficient to earn a spot among the many prime layer-2 cash to purchase.

BNT is the native token for Bancor – a software program that incentivises customers to supply liquidity to DeFi protocols. It’s making an attempt to facilitate the operation of automated market makers (AMMs), the place buyers present liquidity to DeFi markets in change for charges and curiosity.

Bancor is at the moment constructed to work on the Ethereum and EOS blockchains. However, further chains might all the time be added over time.

With a present value of $3.26, Bancor’s BNT token is up 2% previously 24 hours. That’s very aggressive with the market. However there’s lots of upside to this coin. DeFi is about to develop considerably this yr, and Bancor can have a task to play in that. There was a latest proposal within the SushiSwap neighborhood a couple of attainable merger with Bancor. If a DEX like SushiSwap can recognise the potential in Bancor, buyers ought to too.

5. OX  (ZRX)

Rounding up our checklist of one of the best layer-2 cash to purchase is ZRX- the native token for 0x. The asset is a device that permits for the seamless peer-to-peer change of Ethereum-based belongings. The platform, constructed by 0x Labs, provides safe and audited sensible contracts, developer instruments for its ecosystem, and a decentralised world peer-to-peer order ebook. As a local token, ZRK is used to pay charges and settle transaction prices.

ZRX is a kind of cash with lots of potential for the longer term. If you happen to’re a long-term investor, that is one thing for you. The asset trades at the moment at $0.750 per unit, up a powerful 6.5% previously 24 hours.

Learn extra:

  • The place to Purchase OMG
  • The place to Purchase Polygon (MATIC)

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