If you're still treating every new L2 like a guaranteed goldmine, stop now.
Chasing native yield and points on chains that later wind down has left plenty of people stuck with illiquid bags and expensive withdrawals. The FOMO hits hard until the announcement drops.
Blast gradually shutting down its L2 network is a reminder that not every Ethereum scaling experiment makes it. We watched similar stories play out with earlier L2s that launched with massive incentives then couldn't retain users once the rewards dried up. Established players kept building while the flashy ones faded.
$ETH continues to dominate the L2 space for a reason, and $BTC holders sitting on the sidelines probably aren't surprised. In this greed phase people pile into $USDT yield farms on unproven networks without asking if the chain even has a long-term plan.
Anyone else seeing this as the latest chapter in L2 Darwinism?
#BlastToGraduallyShutDownItsL2Network #SECProposesCryptoCustodyRules #SECApproves3xLongCryptoCommodityETPs
Chasing native yield and points on chains that later wind down has left plenty of people stuck with illiquid bags and expensive withdrawals. The FOMO hits hard until the announcement drops.
Blast gradually shutting down its L2 network is a reminder that not every Ethereum scaling experiment makes it. We watched similar stories play out with earlier L2s that launched with massive incentives then couldn't retain users once the rewards dried up. Established players kept building while the flashy ones faded.
$ETH continues to dominate the L2 space for a reason, and $BTC holders sitting on the sidelines probably aren't surprised. In this greed phase people pile into $USDT yield farms on unproven networks without asking if the chain even has a long-term plan.
Anyone else seeing this as the latest chapter in L2 Darwinism?
#BlastToGraduallyShutDownItsL2Network #SECProposesCryptoCustodyRules #SECApproves3xLongCryptoCommodityETPs
