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Ignas | DeFi on X: "L2s Are the New Old L1s—And Why ETH's Price Is Stuck." / X

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To view keyboard shortcuts, press question mark View keyboard shortcuts Messages Home Explore Notifications Messages Grok Premium Communities Profile More Post tommy @tomisonchain Article See new posts Conversation Ignas | DeFi @DefiIgnas L2s Are the New Old L1s—And Why ETH's Price Is Stuck. 51 137 682 125K Did Ethereum win the L1 wars? It's now an obvious no, you'd say. And that's a big reason why $ETH price is stagnating. But ETH as "L1 winner" was a common belief during the bear run. This was a lesson for me, too. We all knew the bull market would arrive, so many sold their alt-L1 bags and loaded up on the two assets we believed wouldn't disappear: BTC and ETH. All other L1s were supposed to fade into oblivion for two reasons: First, alt-L1s competed for the same yield-thirsty degens by offering liquidity mining rewards on top of the same forked protocols as Aave & Uniswap V2. There was little innovation on the app layer outside of Ethereum. Avalanche, BNB Chain, Polygon... They we

Did Ethereum win the L1 wars? It's now an obvious no, you'd say. And that's a big reason why $ETH price is stagnating. But ETH as "L1 winner" was a common belief during the bear run. This was a lesson for me, too. We all knew the bull market would arrive, so many sold their alt-L1 bags and loaded up on the two assets we believed wouldn't disappear: BTC and ETH. All other L1s were supposed to fade into oblivion for two reasons: First, alt-L1s competed for the same yield-thirsty degens by offering liquidity mining rewards on top of the same forked protocols as Aave & Uniswap V2. There…

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