8 Best Layer 2 Blockchain Tokens to Invest in 2023

cryptonews.com:

It is almost that time again when the crypto bull market kicks in, and Ethereum mainnet transactions become unaffordable for everyone who missed Bitcoin at $1. As such, several projects have made significant progress in creating faster and more functional layer 2 networks.

This article looks at the best layer 2 blockchain tokens with the most potential in 2023. We consider factors like tokenomics, network activity, market cap, technology and more.

If you are stretched on time, here is the TL;DR of the best layer 2 blockchain tokens.

Now that we have provided our layer 2 tokens list, let’s dive deeper into each token, what makes them unique and what gives them such potential.

Abrtirum is a top-rated layer-two scaling solution, currently second only to Polygon by market cap. However, Arbitrum sits top of our list of best layer 2 blockchain tokens due to its network activity to market cap ratio.

Since its launch in March 2021, Arbitrum has become one of the most used Ethereum layer two rollups. There are 435 protocols active on the Arbtirum chain, 120K daily active users, a $2.8 billion TVL and a whopping $1.5 billion in locked stablecoins. 

This is significant, considering the Arbitrum token’s market cap is just $1.29 billion. Furthermore, the platform has generated over $120K in revenue in the last 24 hours.

With the crypto bull run expected to occur soon, much of the stablecoin value on the network may trickle into $ARB as investors gain confidence in the market's direction.

On top of the deep liquidity, low transaction fees, and a vast ecosystem comprising hundreds of dApps, one of Arbitrum’s main draws is its trailblazing GMX protocol. This is one of the first decentralised perpetual exchanges enabling users to trade with