Layer-2 bull: These altcoins dominated November

Although the price of ETH did not reach its all-time high, Ethereum layer-2 projects continued to rise.

In the bull cycle where Bitcoin approaches 100,000 dollars, the ETH price remained below expectations. Crypto investors criticized ETH for not approaching the all-time high of 4,878 dollars.

Although ETH remains in the shadow of BTC, it has experienced a 37.9% increase in the last month. Indeed, ETH has obtained a positive outlook in November, activating layer-2 (scaling) projects.

Scaling projects that left their mark on the month of November stood out.

Loopring (LRC)

Loopring (LRC), a scaling project on the Ethereum blockchain, achieved the best performance in the layer-2 category. LRC has surged by 84.19% in the last month.

The layer-2 project Loopring, launched in 2017, enables the development of decentralized exchanges on the Ethereum blockchain.

According to CoinMarketCap data, LRC recorded a trading volume of 58 million dollars in the last 24 hours. The popular altcoin has a market value of 300 million dollars.

Arbitrum (ARB)

Arbitrum (ARB), one of the most popular Ethereum layer-2 projects in recent times, made a sensational debut in November. The smart contracts platform that solves Ethereum's scaling issues has hosted intense user activity in the past month. With significant momentum, ARB has achieved a 74.86% increase in the last month.

In the last 24 hours, ARB, which recorded a transaction volume of 1.652 billion dollars, reached a market value of 3.676 billion dollars.

SKALE (SKL)

SKALE (SKL), a modular blockchain platform aiming to enhance the scalability of Ethereum, has been one of the top performers in the last month.

SKL, which contributes to the development of Ethereum with fast and efficient transactions, has increased by 71.13% in the last month.

SKL, with a market value of 324 million dollars, registered a trading volume of 55 million dollars in the last 24 hours.

Polygon (POL)

Polygon (POL), one of the oldest Ethereum scaling projects in the crypto sector, was among the top layer-2 gainers in November. The altcoin, which changed its token name from MATIC to POL, accompanied the layer-2 bull run initiated by ARB. POL recorded a 66% increase in the last month.

Altcoin, which recorded a trading volume of $682 million in the last 24 hours, has a market value of $4.28 billion.

Manta Network (MANTA)

Manta Network (MANTA), which offers decentralized data and anonymity features, has established integration with different blockchains such as Ethereum and Polkadot. Manta Network is positioned among layer-2 solutions that enable the scaling of the Ethereum blockchain.

The popular altcoin made a name for itself by accompanying the layer-2 bull. MANTA has achieved a 58.87% increase in the last month.

MANTA, which has a market value of 398 million dollars, recorded a trading volume of 100 million dollars in the last 24 hours.

This article does not contain investment advice or recommendation. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.