TechFlow news, November 21 — According to Cointelegraph, Galaxy Research analyzed the growth of the Bitcoin L2 ecosystem in 2024 in its latest report, noting that the number of projects has increased sevenfold so far, with venture capital investment reaching approximately $447 million.
Galaxy estimates that by 2030, around $47 billion worth of Bitcoin liquidity could be connected to Bitcoin L2 networks. From January to September 2024, Bitcoin L2 projects raised $174 million in funding.
Researchers also pointed out a significant shift in Q2 2024, when Bitcoin L2 projects accounted for 44% of all venture capital invested in Layer 2 networks across the entire cryptocurrency industry.
Compared to Q1, investment in Bitcoin L2 projects surged by 159% in Q2. Galaxy believes that as the ecosystem matures, crypto venture capitalists will continue deploying capital into Bitcoin L2 initiatives.
