Another Ethereum L2 bites the dust as Pudgy Penguins shuts down Abstract just days after Blast made the same call. Pouring tens of millions into consumer chains without sustainable organic volume is a brutal capital sink. This trend proves that narrative-driven L2 bloat is correcting hard. Builders are realizing that fragmented liquidity and high maintenance costs aren't worth it. We are likely entering a phase of ruthless consolidation where only networks with real utility survive. $ETH #Ethereum #Layer2 #PudgyPenguins