3 Layer 2 Tokens That Have Done Well Recently

In this post, I am going to share some Hive Engine Layer 2 tokens that have made significant moves lately, especially over the past month as well. Unsurprisingly, these tokens have caught my attention because I have been involved and have been following the projects for quite some time.

Of course, I do hold some of them at the moment, and for those who are curious, I believe the figures in my Hive wallet are public information. I do trade them occasionally as I strike a balance between my exposure to these Hive Engine Layer 2 tokens and my personal Hive Power as well.

Before I start, I should always reiterate that this is not financial advice. This is just my personal viewpoint and one should ALWAYS do your own due diligence for anything you want to put your money in.

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SBT: +77% in the past 3 months

SBT stands from Splinterlands Battle Token and it's run by @itzninjafool. You can refer to my latest monthly update about SBT over here. The past 3 months have seen an amazing 77% increase in price of SBT, thanks to the improvement of weekly drips, partnerships with PEPE and a chill yet supportive community on Discord. Of course, there is always a risk for every token or project. For SBT, in my view, the key risk would be key man risk. It's mainly run and supported by one person, and members would know, there was a halt in the project for some time as things happened in real life and other commitments took priority (and understandably and rightfully so).

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THGAMING: 44% in the past 3 months

I realised I haven't really talked about this project on Hive formally even though I have been following this project for a short while. It's run by @jim-crypto and so far my short exposure has been pretty positive. I enjoyed tuning to the weekly shows that they do at PIMP Discord as well as analysis of price actions in the Discord. It's very educational and I am always keen to level up and improve on my financial knowledge. Through THGAMING, I also got to try out Neon Strike, which you could read about it over here. As for the risk of THGAMING, once again in my view, is that I am not fully sure of the underlying assets that back the price of the token, so it's hard to pin a "reasonable" value of the token. That said, I think the team is knowledgeable, and one testament to this is that they have gone through crypto winter and are still around.

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LEN: +17% in the past 3 months

The LEN token is the token that is either mined by holding LENM or by delegating HP to @liotes.voter. These two concepts should be familiar to most people on Hive and there are many projects which employ similar strategies too. But I think this project stood out because of the people behind, which are @achim03 and @ph1102. Their consistency week in week out, to run this project, even when they were on vacations, just amazes me. There might be projects out there with better whitepapers or more ambitious targets, but what's more important is the ability to execute and implement to turn these ideas into reality, and Liotes has been able to do so over the years, and the price of LEN reflects that. If I had to highlight a risk of LEN, it would be the price volatility and the lack of utility, as holders of LEN are more likely to sell this curation reward token.

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ZING: +77% in the past 3 months

I was supposed to share 3 tokens, but I just couldn't resist to include ZING because the price movement in the past week has been quite crazy. In case you are wondering what happened, they have launched their Alpha Vials, and at time of writing, they have sold 640 Alpha Vials that are priced at 20 HBD (over 8 days so far). You can read more about it in the latest post here. That said, the price of ZING has been quite depressed for most of the year as the hype died down after the initial launch of ZING about one year ago. And for ZING, the obvious risk would be the execution of the HoloZing game and whether the game will live up to everyone's (high) expectations. Another risk would be the supply of ZING tokens, because the airdrops are very fluid and are often adjusted with each development.

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And that's it for the list of Layer 2 tokens that have done well recently! It's the first time I am writing something like this, and other than this being a sharing, it made me reflected on why I am holding these tokens and my impression of the respective projects. Of course, just like my disclaimer at the start the post, this is NOT financial advice, price appreciation is NOT guaranteed and token prices can be EXTREMELY VOLATILE too, which I think most readers would understand as well.

Feel free to share with me if there's anything on your radar too, as we are all here to learn!