Data: Bitcoin L2 Project Has Raised $447 Million So Far

Galaxy Research analysed the growth of the Bitcoin L2 ecosystem in 2024 in its latest report, noting that venture capital investment in the Bitcoin L2 space has reached $447 million to date, with 39% of that investment occurring in the first three quarters of 2024.Between January and September 2024, Bitcoin L2 projects received $174 million in funding. Between January and September 2024, the Bitcoin L2 project received $174 million in funding. Of that, $105 million went to sidechain projects, while $63 million went to rollups.

Galaxy estimates that about $47 billion of Bitcoin liquidity could be connected to the Bitcoin L2 network by 2030. The organisation believes that traditional crypto venture capital firms (excluding Bitcoin-focused funds) will be less involved in the Bitcoin ecosystem until 2024. As the ecosystem matures, crypto VCs will continue to deploy capital to the Bitcoin L2 project.