In its latest report, Galaxy Research analyzed the growth of the Bitcoin L2 ecosystem in 2024, noting that the number of projects has grown sevenfold so far, with venture capital investment reaching approximately $447 million. Galaxy estimates that approximately $47 billion in Bitcoin liquidity could be connected to the Bitcoin L2 network by 2030. Between January and September 2024, the Bitcoin L2 project received $174 million in financing. The researchers also noted a significant change in the second quarter of 2024, with Bitcoin L2 projects accounting for 44% of the venture capital investment received by L2 networks across the cryptocurrency industry. Investment volume increased by 159% in the second quarter compared to the first quarter. Galaxy believes that crypto venture capital firms will continue to deploy capital to Bitcoin L2 projects as the ecosystem matures. (Cointelegraph)