Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: KryptoBull on August 14, 2024, 09:10:07 AM
-
Ethereum used to have issues with slow speeds and high gas fees, but these seem to have been addressed by Layer-2 solutions. In recent months, the Ethereum layer-2 ecosystem has witnessed explosive growth. According to a recent report by Cointelegraph, the number of daily transactions on layer-2 networks has surged by 140% since the beginning of 2024 [1].
The rise of Layer 2 solutions is having a profound impact on the Ethereum network. One of the most notable effects is a significant reduction in gas fees. This makes it easier for users to interact with the Ethereum network, thereby promoting the adoption of Ethereum in various sectors of the crypto market and in real-world applications. Accompanying this is a decrease in the number of transactions on Ethereum, a decrease in the amount of ETH burned from transaction fees, and a return of ETH inflation. However, I don't think this is really important for an investor's decision to buy and hold ETH [2].
The success of Layer-2 has shifted my focus towards their native tokens like MATIC, ARB, OP, BLAST, LRC, DYDX, IMX, MNT, etc. Although the prices of these native tokens are not particularly high right now, I still maintain the view that the Layer-2 trend will explode in this uptrend, and the tokens within their ecosystems will yield significant profits for investors.
I would like to know your opinion on this issue:
- Do you think the success of Layer-2 is also the success of Ethereum?
- Are you holding any native tokens of Layer-2?
- Are you planning to invest in tokens in the Layer-2 ecosystem this season?
References:
[1] Ethereum L2 ecosystem processes a record 12.4M transactions in a day (https://cointelegraph.com/news/ethereum-l2-ecosystem-processes-a-record-12-4-m-transactions-in-a-day)
[2] Ethereum Inflation Surges with Burn Rate Decline: Layer-2s Vital in Dynamics – ETH Price May Bottom (https://www.ccn.com/analysis/crypto/ethereum-inflation-burn-rate-layer-2s-eth-price-bottom/)
Note:
- My opinion has been presented in a topic, on BitcoinTalk forum (https://bitcointalk.org/index.php?topic=5506106).
- This topic on AltcoinsTalks forum has included a minor change in the way my opinion is presented.
- This statement is to avoid accusations of plagiarism.
-
Your analysis is generally correct but the million dollar question, do you think the need for Layer-2 guarantees that it will be a certain one that will rise especially with the presence of many projects such as MATIC, ARB, OP, BLAST, LRC, DYDX, IMX, MNT, etc.
Let's assume that investments will flow into Layer-2, it is still a group of tokens that may not all rise and investing in them may not be profitable on average. I can bet on which of these tokens will succeed and then I can consider it a good source to provide more liquidity to buy Bitcoin or Ethereum.
-
Before writing such detailed analysis about the layer 2 solution you should have checked the following thread: https://www.altcoinstalks.com/index.php?topic=322326.0
Layer 2 solutions on Ethereum network have started facing network congestion that is why layer 3 solutions projects have now started coming up. I don't think in the coming years existing layer 2 projects will be able to handle the traffic. I am not interested in anyone of them currently.
-
Layer 2 solutions on Ethereum network have started facing network congestion that is why layer 3 solutions projects have now started coming up. I don't think in the coming years existing layer 2 projects will be able to handle the traffic. I am not interested in anyone of them currently.
I don’t think any of this Ethereum layer 2 networks have lived up to their hype, my biggest disappointment was on the Polygon network (Matic), it’s hype was supposed to take it way up than we have now but it’s scalability is still a big concern as it’s faces congested sometimes too. Interms of investing I will definitely not recommend Any as of now, if there is any on Ethereum it will be the base network. ZKsync had a very bad congestion and also its airdrop wasn’t pleasant so I don’t see many investors coming towards it right now. Moreover with Solana blockchain going high in terms of scalability I think Ethereum and it’s layer 2 network are going to face a very difficult competition
-
Moreover with Solana blockchain going high in terms of scalability I think Ethereum and it’s layer 2 network are going to face a very difficult competition
I have not heard pleasent news about Solana after the network got hyped by meme coins. Network outrage has been a constant issue with it. The only benefit I can think of is less transaction fee when I compare it with Ethereum. The problem is that all known blockchains are having congestion issue even TON is facing the same issue. There is no end to congestion sometimes I feel.
-
Initially, I was super interested in MAtic and still, i'm but not as a Layer 2 project, now for the L2 in my view OP and ARB have great potential to shine in this cycle, and for sure L2's are gonna explode as one of most dominant narrative in this cycle.
Yup in my views as L2's are under the ETH ecosystem and the more developed L2's ecosystems will directly gonna boost the ETH's ecosystem, and the only reason why i consider ETH as one of most reliable coin after Bitcoin is due to its immense ecosystem.
-
The problem is that all known blockchains are having congestion issue even TON is facing the same issue. There is no end to congestion sometimes I feel.
something positive is now associated with something negative as investors we would be happy to see the value of a coin going up which means more and more people are investing in and using that coin unfortunately this rises the chances of congestion which for people who want to use the coin for daily transactions this becomes a huge problem
crypto in itself is a great innovation but we need to accept that it still has a long way to go it still cannot keep privacy security and decentralization without sacrificing contrpl of congestion and vice versa
i am hopeful that someday we can see another blockchain that has perfected everything so that we can get rid of all these problems
-
Do you think the success of Layer-2 is also the success of Ethereum?
Yes, since layer 2s like Optimism, Arbitrum have arrived — we are seeing low gas fees on mainnet. Of course bear market also played it's part in having this low fees, but these layer 2s are processing good number of transactions, so taking load up from mainnet anyhow.
Are you holding any native tokens of Layer-2?
Yes, $OP, $ARB and $ZK.
Are you planning to invest in tokens in the Layer-2 ecosystem this season?
Yes, already mentioned above, I'd love to invest more but money?
You buy at dips, and it keeps dipping then on significant dip you don't have money to take advantage of dip lol.
-
Your analysis is generally correct but the million dollar question, do you think the need for Layer-2 guarantees that it will be a certain one that will rise especially with the presence of many projects such as MATIC, ARB, OP, BLAST, LRC, DYDX, IMX, MNT, etc.
Let's assume that investments will flow into Layer-2, it is still a group of tokens that may not all rise and investing in them may not be profitable on average. I can bet on which of these tokens will succeed and then I can consider it a good source to provide more liquidity to buy Bitcoin or Ethereum.
I can't predict the future, I can only judge based on MATIC's success in 2021 and the current popularity of L2. I really hope that trading and investment demand will be strong enough to drive the development and popularization of L2, causing their native tokens to increase in value significantly.
However, investing in the crypto market always comes with risks, especially when investors choose altcoins with small caps. If fear and account management cannot be controlled, investors should still be satisfied with BTC and ETH. Personally, I'm more optimistic. I think this is a good time to consider L2 native tokens as they have just returned to their bottom prices.
-
Your analysis is generally correct but the million dollar question, do you think the need for Layer-2 guarantees that it will be a certain one that will rise especially with the presence of many projects such as MATIC, ARB, OP, BLAST, LRC, DYDX, IMX, MNT, etc.
Let's assume that investments will flow into Layer-2, it is still a group of tokens that may not all rise and investing in them may not be profitable on average. I can bet on which of these tokens will succeed and then I can consider it a good source to provide more liquidity to buy Bitcoin or Ethereum.
I can't predict the future, I can only judge based on MATIC's success in 2021 and the current popularity of L2. I really hope that trading and investment demand will be strong enough to drive the development and popularization of L2, causing their native tokens to increase in value significantly.
True, but betting that L2 will rise is a valid bet. You just have to be smart about which ETH L2 pairs will attract investors’ attention because this is the one whose price will be pumped and all L2 tokens will follow it.
I was also an investor in MATIC but I started losing hope.
-
The big problem with these governance tokens is the almost certain devaluation, since VCs have a large number of tokens and usually sell at the first opportunity they get to recover the money invested
I use Arbitrum, Polygon, Base, Zksync and Optmism
Excluding Polygon, which I already use to store my ETH (weth), the most I use it for is to hunt for some aidrops, and these networks are cheaper to make bridges and put in some DeFi apps
I'm currently only holding the ZKSync token because I sold one part and kept another
-
I would like to know your opinion on this issue:
- Do you think the success of Layer-2 is also the success of Ethereum?
- Are you holding any native tokens of Layer-2?
- Are you planning to invest in tokens in the Layer-2 ecosystem this season?
1. The emergence of Layer-2 has helped Ethereum alleviate its transaction burden, allowing it to be used for other important purposes such as asset tokenization or transaction validation for Layer-2. Users will benefit more from this upgrade, making Layer-2 a significant development for Ethereum.
2. I have ARB, IMX, and DYDX in my portfolio, which are all tokens belonging to the Ethereum Layer-2 segment with different purposes, although IMX and DYDX are not as well-known as ARB.
3. I prefer native tokens, so I'll probably just invest in them instead of researching more about projects inside such as DEXs and staking projects.
-
1. The emergence of Layer-2 has helped Ethereum alleviate its transaction burden, allowing it to be used for other important purposes such as asset tokenization or transaction validation for Layer-2. Users will benefit more from this upgrade, making Layer-2 a significant development for Ethereum.
2. I have ARB, IMX, and DYDX in my portfolio, which are all tokens belonging to the Ethereum Layer-2 segment with different purposes, although IMX and DYDX are not as well-known as ARB.
3. I prefer native tokens, so I'll probably just invest in them instead of researching more about projects inside such as DEXs and staking projects.
I also think we should have a more open-minded view of L2, even though the Optimistic & zK Rollups technology aren't perfect yet. ETH's inflation is a minor issue, not worth worrying about or hindering Ether's development. In fact, ETH investors don't even need to know the inflation or deflation rate.
With the support of L2, Ether will be freed up and used for greater purposes, more money will flow into Ether, and ETH price will definitely increase, not just depending on the supply/demand from the amount of ETH burned in transaction fees. Ether is also used to confirm transactions for L2, which means when L2 has more customers, Ether will also have more transactions to confirm and burn fees.
-
---
I would like to know your opinion on this issue:
- Do you think the success of Layer-2 is also the success of Ethereum?
- Are you holding any native tokens of Layer-2?
- Are you planning to invest in tokens in the Layer-2 ecosystem this season?
1. Without Ethereum, there will be no Layer-2 projects that will be developed. I mean it's the origin so it has a big contribution towards how Layer-2 projects are right now. These Layer-2 projects are under Ethereum so whenever investors think about these projects, they will also think about Ethereum so I think it is.
2.Arbitrum, and Polygon are the ones that I'm currently holding right now although it isn't that much.
3. Right now, no because I've already set all of my money into Bitcoin and Bitcoin only until the bull run starts. I know that the upside of these altcoins are much higher than that of Bitcoin, but I just want to lessen my risk hence, I will be focusing on Bitcoin. I will only buy these altcoins particularly these Layer 2 projects during the bear market.
-
1. Without Ethereum, there will be no Layer-2 projects that will be developed. I mean it's the origin so it has a big contribution towards how Layer-2 projects are right now. These Layer-2 projects are under Ethereum so whenever investors think about these projects, they will also think about Ethereum so I think it is.
2.Arbitrum, and Polygon are the ones that I'm currently holding right now although it isn't that much.
3. Right now, no because I've already set all of my money into Bitcoin and Bitcoin only until the bull run starts. I know that the upside of these altcoins are much higher than that of Bitcoin, but I just want to lessen my risk hence, I will be focusing on Bitcoin. I will only buy these altcoins particularly these Layer 2 projects during the bear market.
I also hope that Ethereum will always be the focal point for all investors when participating in these L2s, meaning that the price of ETH will always be referenced and ETH will also be included in their investment portfolios. This could be a significant driver for ETH to increase in price along with the L2 native tokens instead of being forgotten.
I am also buying L2 native tokens because I think this is the right time to accumulate them to make a profit in an uptrend. In a downtrend, I just want to hold stablecoins and only buy BTC in the market's accumulation and recovery periods . Other altcoins have too much risk and often recover less than BTC during those periods.
-
I was also an investor in MATIC but I started losing hope.
Hmm, the same is the case with me, I was super bullish with the matic and now things are complicated but still I'm holding all my matic strongly seems like, it will survive and for sure when this happens it will make us some good returns.Haha, at least I can have a positive attitude toward my investment. Still there are many options in L2 narrative like ARB which is most likely going to be the leader of this trend in my views.
-
I was also an investor in MATIC but I started losing hope.
Hmm, the same is the case with me, I was super bullish with the matic and now things are complicated but still I'm holding all my matic strongly seems like, it will survive and for sure when this happens it will make us some good returns.
Is there still hope for Matic? I am also really losing hope on this coin. Even though I invested quite a lot in this coin. I put too high hopes on this coin, it turned out that Solana was the one that could really go up and develop extraordinarily.
Even though Matic is actually good, it's just that it's hard to develop, and this price is really hard to get past $0.5. Can it touch a new ATH later?
Indeed, if it is altcoin, the main investment is in Ethereum only. Although many coins have emerged and claim that they are better than ETH, but still, the market cap cannot lie. And ETH remains the best altcoin and has the potential for price development.
-
Is there still hope for Matic? I am also really losing hope on this coin. Even though I invested quite a lot in this coin. I put too high hopes on this coin, it turned out that Solana was the one that could really go up and develop extraordinarily.
Even though Matic is actually good, it's just that it's hard to develop, and this price is really hard to get past $0.5. Can it touch a new ATH later?
Indeed, if it is altcoin, the main investment is in Ethereum only. Although many coins have emerged and claim that they are better than ETH, but still, the market cap cannot lie. And ETH remains the best altcoin and has the potential for price development.
The success of MATIC during the 2021 uptrend has led to a massive community, who continue to buy and hold MATIC despite its weaker price performance compared to other L2 native tokens in the market. SOL is an exception, as it has risen from the ashes of the FTX collapse, providing returns for many investors and leaving both you and me with feelings of regret.
I believe ETH still deserves a place in any investment portfolio, even though many other L2 native tokens are promising and L2 is developing rapidly. The recent sharp correction of many L2 native tokens has reaffirmed this, meaning that investing in them also means accepting high risks and requiring good capital management.
-
I was also an investor in MATIC but I started losing hope.
Hmm, the same is the case with me, I was super bullish with the matic and now things are complicated but still I'm holding all my matic strongly seems like, it will survive and for sure when this happens it will make us some good returns.
Is there still hope for Matic? I am also really losing hope on this coin. Even though I invested quite a lot in this coin. I put too high hopes on this coin, it turned out that Solana was the one that could really go up and develop extraordinarily.
Even though Matic is actually good, it's just that it's hard to develop, and this price is really hard to get past $0.5. Can it touch a new ATH later?
Indeed, if it is altcoin, the main investment is in Ethereum only. Although many coins have emerged and claim that they are better than ETH, but still, the market cap cannot lie. And ETH remains the best altcoin and has the potential for price development.
Ending up with a coin, in which the concerned country or monetary authority has not delivered as expected, is definitely a kind of learning. In the given investment, it will be possible to assess our location, as well as the future moves without running a chance. Each asset has its own timeline and it can sometimes take a while before a project really gets an opportunity to shine. As we have seen in the current situation Matic saw scalability potential in technology, and perhaps there is more space to scale if the expansion of the network continues in the future. It is also still possible to track the progress of this particular project as well as diversify our range of services to reduce risk exposure. Individual and gradual actions help keep the course in achieving a healthier and better formulated financial goal.
-
Ending up with a coin, in which the concerned country or monetary authority has not delivered as expected, is definitely a kind of learning. In the given investment, it will be possible to assess our location, as well as the future moves without running a chance. Each asset has its own timeline and it can sometimes take a while before a project really gets an opportunity to shine. As we have seen in the current situation Matic saw scalability potential in technology, and perhaps there is more space to scale if the expansion of the network continues in the future. It is also still possible to track the progress of this particular project as well as diversify our range of services to reduce risk exposure. Individual and gradual actions help keep the course in achieving a healthier and better formulated financial goal.
Matic was once very famous and successful in 2021 when it was the first L2 for Eth. However, in this season, newer and more exciting projects have replaced Matic: Op, Arb, Base, Strk... I rarely read any updated news about Matic, it seems to have been forgotten in the L2 trend.
Every project has its own opportunity and time, I don't think Matic can regain its past glory. MATIC is also not included in my investment portfolio, I'm afraid that all its price-pumping potential has been fully exploited in the previous season and it won't be pumped hard in this season.
-
Matic was once very famous and successful in 2021 when it was the first L2 for Eth. However, in this season, newer and more exciting projects have replaced Matic: Op, Arb, Base, Strk... I rarely read any updated news about Matic, it seems to have been forgotten in the L2 trend.
Every project has its own opportunity and time, I don't think Matic can regain its past glory. MATIC is also not included in my investment portfolio, I'm afraid that all its price-pumping potential has been fully exploited in the previous season and it won't be pumped hard in this season.
To this day I use Polygon network a lot, and I still find it very good and secure, I have more than 1200 txs in polygon
Easy to convert ETH (weth) into USDT or USDC and send or receive from exchanges, as well as being fast
However, competing L2s have a lot of users farming airdrops, like Base, Linea, OP etc... and I think a lot of TVL is precisely because of the airdrops, not about the fees or tech in general, but only due to airdrops
-
To this day I use Polygon network a lot, and I still find it very good and secure, I have more than 1200 txs in polygon
Easy to convert ETH (weth) into USDT or USDC and send or receive from exchanges, as well as being fast
However, competing L2s have a lot of users farming airdrops, like Base, Linea, OP etc... and I think a lot of TVL is precisely because of the airdrops, not about the fees or tech in general, but only due to airdrops
Airdrop is also an effective marketing tactic and Matic has used it very successfully. In addition, investors often prefer new projects with new solutions, while Matic may have already been fully exploited and whales may not choose Matic after taking profits.
I rarely use Matic, I also rarely hear about it on crypto media. MATIC price has recovered from 0.3 USD to 0.7 USD but has not been able to generate excitement for investors. Matic may be very good but unfortunately, it is not the chosen L2 this season.
-
Actually the airdrops are something that can make you a decent profit of course if you have time and the right tactics when to sell it.
Just remember with the airdrops that about 90% of them will fail even before launched on the markets, 5% will not make any impact long term, and maybe 5% of these have some possibility to have a good big bang. That's at least according to my experience over the years
-
Take a look at this nice chart that I found:
(https://i.ibb.co/80V3drG/Captura-de-tela-2024-12-19-153752.png) (https://ibb.co/nbS2n74)
Source (https://www.coingecko.com/en/chains/layer-2)
-
Actually the airdrops are something that can make you a decent profit of course if you have time and the right tactics when to sell it.
Just remember with the airdrops that about 90% of them will fail even before launched on the markets, 5% will not make any impact long term, and maybe 5% of these have some possibility to have a good big bang. That's at least according to my experience over the years
This is why you need to sell them as soon as you are given the rewards but if you believed in the project, you can still hold it pending when it get up there again, the chance of growing it's always difficult because there are more competitors around that can make you like be among the best unless you have something unique to offer the investors.
It's really scary how we now have different projects launching everyday, this one is layer 2 and the next one is layer 2, there is nothing unique in their development, just sampling projects everyday and makes you wonder when it's going to get better better.
-
To this day I use Polygon network a lot, and I still find it very good and secure, I have more than 1200 txs in polygon
Easy to convert ETH (weth) into USDT or USDC and send or receive from exchanges, as well as being fast
However, competing L2s have a lot of users farming airdrops, like Base, Linea, OP etc... and I think a lot of TVL is precisely because of the airdrops, not about the fees or tech in general, but only due to airdrops
Airdrop is also an effective marketing tactic and Matic has used it very successfully. In addition, investors often prefer new projects with new solutions, while Matic may have already been fully exploited and whales may not choose Matic after taking profits.
I rarely use Matic, I also rarely hear about it on crypto media. MATIC price has recovered from 0.3 USD to 0.7 USD but has not been able to generate excitement for investors. Matic may be very good but unfortunately, it is not the chosen L2 this season.
I think that you could explain a best opinion in your comment. I also believe that Ethereum layer 2 is also a best valuable for cryptocurrency market. I also believe that gradually it's price is increasing in crypto currency market. I also believe that Ethereum layer 2 is also achieve best popularity in this time. I also believe that within a short time Ethereum layer 2 will reach out in best position in cryptocurrency market. I also use Matic in this time, because I think that Matic price also reach best position in cryptocurrency world.
-
This is why you need to sell them as soon as you are given the rewards but if you believed in the project, you can still hold it pending when it get up there again, the chance of growing it's always difficult because there are more competitors around that can make you like be among the best unless you have something unique to offer the investors.
Regarding new tokens from new projects, yes, it is very high risk to hold for a long time, especially if the project is not very convincing, oh well, it's better to take profits or sell it when there is still a price. Because many times, most new projects experience the same obstacles, namely failing in the market, even dying immediately after listing, or even the dev and their teams running away, only listing on DEX or on low exchanges. This often happens because that's why if you play in low projects or new projects like this, risk management must be more prepared, and you must have your own analysis for the most appropriate selling momentum, because it is indeed that difficult to maintain new tokens to stay in the market with high progress.
-
It's really scary how we now have different projects launching everyday, this one is layer 2 and the next one is layer 2, there is nothing unique in their development, just sampling projects everyday and makes you wonder when it's going to get better better.
To be fair we always have this kind of cycle every season. For example, we got RWA projects popping out in succession, before that we had NFTs, DEXes, and so on. It just shows that some projects exist because they want to ride the market trend, not necessarily because they have a strong foundation to achieve their goal. Other than the first two or five projects that started the trend I'd say being more cautious is warranted.
Speaking of L2, I found some discussion talking about the possibility of L3 or even L5 in the future. I think it's interesting that some people talk about that, which suggests that some L2 is not really successful if they consider the need for a cheaper layer for them. I'm personally waiting for Linea to see whether I waste my time participating in their community program or not.
-
To be fair we always have this kind of cycle every season. For example, we got RWA projects popping out in succession, before that we had NFTs, DEXes, and so on. It just shows that some projects exist because they want to ride the market trend, not necessarily because they have a strong foundation to achieve their goal. Other than the first two or five projects that started the trend I'd say being more cautious is warranted.
Speaking of L2, I found some discussion talking about the possibility of L3 or even L5 in the future. I think it's interesting that some people talk about that, which suggests that some L2 is not really successful if they consider the need for a cheaper layer for them. I'm personally waiting for Linea to see whether I waste my time participating in their community program or not.
We are exploring and finding ways to leverage the full power of L2, while L3 is still quite new and has not received much attention because they are not yet truly necessary for users, as the application layer is not something that investors want to access yet. Even the role of L2 is being questioned by many blockchains that have been able to achieve speeds of tens of thousands of tps and are sufficient to serve user needs.
I hope you will have a big reward from Linea, similar to what hunters have received from Arb and Op. The L2 trend has not officially exploded yet, and opportunities are still open for all potential projects with effective solutions!
-
Actually the airdrops are something that can make you a decent profit of course if you have time and the right tactics when to sell it.
Just remember with the airdrops that about 90% of them will fail even before launched on the markets, 5% will not make any impact long term, and maybe 5% of these have some possibility to have a good big bang. That's at least according to my experience over the years
This is why you need to sell them as soon as you are given the rewards but if you believed in the project, you can still hold it pending when it get up there again, the chance of growing it's always difficult because there are more competitors around that can make you like be among the best unless you have something unique to offer the investors.
That's exactly true. I remember how in 2018 I had about 6k Ethereum BLUE (it was going to $2 at one point) from airdrop and bounties. Once it hit $1.5 I sold about the half of them, and I left the rest, because I really was thinking that the project will have some impact. Of course it turned out to be a mistake speaking for this now, but who could knew. That's why I stopped participating in any bounties actually, but that's another story.
It's really scary how we now have different projects launching everyday, this one is layer 2 and the next one is layer 2, there is nothing unique in their development, just sampling projects everyday and makes you wonder when it's going to get better better.
-
... I'm personally waiting for Linea to see whether I waste my time participating in their community program or not.
I'm also anxiously awaiting Linea's TGE, but I'm trying not to expect too much
Some similar airdrops have been a failure, like Scroll or Blast
Others have managed to reward many users, such as Arbitrum and ZKsync
Which side will Linea be on?
Linea's TVL has fallen a lot, in 1 month it has lost almost 30% and is now at $373.81m
-
I'm also anxiously awaiting Linea's TGE, but I'm trying not to expect too much
Some similar airdrops have been a failure, like Scroll or Blast
Others have managed to reward many users, such as Arbitrum and ZKsync
Which side will Linea be on?
Linea's TVL has fallen a lot, in 1 month it has lost almost 30% and is now at $373.81m
Not every L2 will be successful in attracting users and having a large TVL in the market, the fierce competition will cause many L2s to disappear in the short term and users will be less confused when choosing an ecosystem to participate in.
Linea has been mentioned quite a lot in the airdrop hunter community, I hope that it will be as successful as Arb and Op and hunters will receive a worthy reward. The more L2s there are, the more likely we are to witness the true value of L2s and the future of L2 development for Eth.
-
While ethereum continues to be a dominant force in decentralized finance and the emergence of layer 2 solutions like base offers a glimpse into the future of a more scalable and efficient blockchain landscape. A crowded field that includes other notable Layer 2 networks such as arbitrum, optimism, polygon, and zksync. While the broader ethereum ecosystem is driving bearish market sentiment and coinbase Layer 2 solution base has reached new highs. Base has consistently outperformed its Layer 2 peers since its launch in mid 2023 and has set all time highs for weekly active wallets, transactions and decentralized exchange dex activity.
-
I'm also anxiously awaiting Linea's TGE, but I'm trying not to expect too much
Some similar airdrops have been a failure, like Scroll or Blast
Others have managed to reward many users, such as Arbitrum and ZKsync
Which side will Linea be on?
Linea's TVL has fallen a lot, in 1 month it has lost almost 30% and is now at $373.81m
Not every L2 will be successful in attracting users and having a large TVL in the market, the fierce competition will cause many L2s to disappear in the short term and users will be less confused when choosing an ecosystem to participate in.
Linea has been mentioned quite a lot in the airdrop hunter community, I hope that it will be as successful as Arb and Op and hunters will receive a worthy reward. The more L2s there are, the more likely we are to witness the true value of L2s and the future of L2 development for Eth.
As soon as the airdrop happens, you can be sure that the Linea's TVL will drop even further, after all a lot of capital is only because of future airdrops
OP has achieved good results by integrating other L2s and dividing the airdrops of its tokens into several stages
The next network that should increase now is ZKsync again, they are starting Ignite which will reward users who use DeFi on the network.
-
As soon as the airdrop happens, you can be sure that the Linea's TVL will drop even further, after all a lot of capital is only because of future airdrops
OP has achieved good results by integrating other L2s and dividing the airdrops of its tokens into several stages
The next network that should increase now is ZKsync again, they are starting Ignite which will reward users who use DeFi on the network.
I think Op will still succeed this season because ZK is not yet ready for widespread adoption. The complexity of the technology causes ZK to frequently encounter problems and it cannot be deployed as widely as Op right now. Op also has Op Stack which is being used by many other L2s, further solidifying Op's value and supporting OP price in the market.
Base doesn't have its own token yet, so if you need to choose a few of the best L2 tokens to invest in, I think OP and ARB are still the potential candidates that investors should consider. If you like Linea, you can wait for the LXP token from this promising L2 project.
-
...
I think Op will still succeed this season because ZK is not yet ready for widespread adoption. The complexity of the technology causes ZK to frequently encounter problems and it cannot be deployed as widely as Op right now. Op also has Op Stack which is being used by many other L2s, further solidifying Op's value and supporting OP price in the market.
Base doesn't have its own token yet, so if you need to choose a few of the best L2 tokens to invest in, I think OP and ARB are still the potential candidates that investors should consider. If you like Linea, you can wait for the LXP token from this promising L2 project.
Let's see in a few weeks
I have good feelings about the ZKsync, maybe it's because they gave me a good airdrop, but the network of ZK is pretty good to use, quick and cheap, with paymaster option is even better
But I recognize the OP network, they are doing good things like the Superchain, where you can bridge between networks quickly and with low fees
The rewards of OP is good too. It's easy to use OP togehter with Base, Zora, Mode etc
I don't know if everyone knows about it, but a good way to participate in several L2s is Layer3
https://app.layer3.xyz/quests
-
Let's see in a few weeks
I have good feelings about the ZKsync, maybe it's because they gave me a good airdrop, but the network of ZK is pretty good to use, quick and cheap, with paymaster option is even better
But I recognize the OP network, they are doing good things like the Superchain, where you can bridge between networks quickly and with low fees
The rewards of OP is good too. It's easy to use OP togehter with Base, Zora, Mode etc
I don't know if everyone knows about it, but a good way to participate in several L2s is Layer3
https://app.layer3.xyz/quests
The competition among L2s will heat up in the future if the L2-trend returns and drives the altseason. Each project has its own solutions, advantages, and user base, but user needs are often similar, and they will only choose to stay with a few familiar ecosystems with many projects and users.
I've chosen ETH because it's the native coin of L1, ETH is much safer than other tokens, and the development of L2s will have a positive impact on ETH's price increase in 2025! I hope the L2-trend will return soon and token prices in the Ethereum ecosystem will rise sharply :)
-
The competition among L2s will heat up in the future if the L2-trend returns and drives the altseason. Each project has its own solutions, advantages, and user base, but user needs are often similar, and they will only choose to stay with a few familiar ecosystems with many projects and users.
I've chosen ETH because it's the native coin of L1, ETH is much safer than other tokens, and the development of L2s will have a positive impact on ETH's price increase in 2025! I hope the L2-trend will return soon and token prices in the Ethereum ecosystem will rise sharply :)
There's no doubt that ETH on ERC20 network is the most secure of all, but the cost is still prohibitive for small amounts
Do you use the mainnet regularly?
Although it's not at its peak, I still find it quite expensive to pay 4 or 5 dollars for a simple contract
I believe that L2s will thrive for a long time, even if ETH lowers the fees a bit, I think that in a short or medium period of time it is impossible to think of fees like L2s that often cost 0.01 cent per tx
-
There's no doubt that ETH on ERC20 network is the most secure of all, but the cost is still prohibitive for small amounts
Do you use the mainnet regularly?
Although it's not at its peak, I still find it quite expensive to pay 4 or 5 dollars for a simple contract
I believe that L2s will thrive for a long time, even if ETH lowers the fees a bit, I think that in a short or medium period of time it is impossible to think of fees like L2s that often cost 0.01 cent per tx
I don't buy ETH on DEXs so I'm less concerned about transaction fees on Eth L1. Using CEXs offers greater convenience and also saves on transaction costs. I only need to pay 0.1% of the transaction value, which is significantly cheaper than DEXs + gas fees.
Users are paying attention to L2 but they probably only care about the opportunity to generate profits in this new ecosystem. L1 still has its own value and the potential for ETH to increase in price is always guaranteed and supported by the development of L2s. This has been proven when ETH price increased significantly when Matic operated very effectively and attracted a large amount of capital into the Eth ecosystem in 2021.
-
Layer 2 of Ethereum will continue to be used because this is the latest innovation of the Ethereum coin, maybe in the past Layer 1 Ethereum still had cheap fees because the price of Ethereum was also cheap, now on the contrary, the Ethereum Layer 1 fee is very expensive because Ethereum is also expensive. That is the function of Layer 2 to reduce the cost of transaction fees for Ethereum coins.
I also don't have a native Layer 2 Ethereum coin yet, but if there is an urgency such as working on an airdrop or any event, I will definitely buy the Ethereum Layer 2 coin, I think Ethereum Layer 2 from BASE which seems to have cheap fees is the same as Ethereum Arbitrum and Athereum Optimism.
-
The competition among L2s will heat up in the future if the L2-trend returns and drives the altseason. Each project has its own solutions, advantages, and user base, but user needs are often similar, and they will only choose to stay with a few familiar ecosystems with many projects and users.
I've chosen ETH because it's the native coin of L1, ETH is much safer than other tokens, and the development of L2s will have a positive impact on ETH's price increase in 2025! I hope the L2-trend will return soon and token prices in the Ethereum ecosystem will rise sharply :)
There's no doubt that ETH on ERC20 network is the most secure of all, but the cost is still prohibitive for small amounts
Do you use the mainnet regularly?
Although it's not at its peak, I still find it quite expensive to pay 4 or 5 dollars for a simple contract
I believe that L2s will thrive for a long time, even if ETH lowers the fees a bit, I think that in a short or medium period of time it is impossible to think of fees like L2s that often cost 0.01 cent per tx
The L2s on ETH are the most vibrant L2s there are, imo.
They are not going anywhere and ETH is relied upon them, and it's so convenient to have them while the price can be too much, just like on BTC and its Lightning Network.
-
Layer 2 of Ethereum will continue to be used because this is the latest innovation of the Ethereum coin, maybe in the past Layer 1 Ethereum still had cheap fees because the price of Ethereum was also cheap, now on the contrary, the Ethereum Layer 1 fee is very expensive because Ethereum is also expensive. That is the function of Layer 2 to reduce the cost of transaction fees for Ethereum coins.
I also don't have a native Layer 2 Ethereum coin yet, but if there is an urgency such as working on an airdrop or any event, I will definitely buy the Ethereum Layer 2 coin, I think Ethereum Layer 2 from BASE which seems to have cheap fees is the same as Ethereum Arbitrum and Athereum Optimism.
Base has not officially announced that they will have a separate token for their L2. However, many investors are still actively participating on Base to increase their chances of receiving an airdrop in the future from this project if Coinbase really has serious plans for a native token.
If you are a hunter on Base, I wish you will receive many tokens in the future. If you believe in other L2s like Arb and Op, you can buy ARB and OP now to not miss out on the L2-trend this year.
-
Layer 2 of Ethereum will continue to be used because this is the latest innovation of the Ethereum coin, maybe in the past Layer 1 Ethereum still had cheap fees because the price of Ethereum was also cheap, now on the contrary, the Ethereum Layer 1 fee is very expensive because Ethereum is also expensive. That is the function of Layer 2 to reduce the cost of transaction fees for Ethereum coins.
I also don't have a native Layer 2 Ethereum coin yet, but if there is an urgency such as working on an airdrop or any event, I will definitely buy the Ethereum Layer 2 coin, I think Ethereum Layer 2 from BASE which seems to have cheap fees is the same as Ethereum Arbitrum and Athereum Optimism.
Base has not officially announced that they will have a separate token for their L2. However, many investors are still actively participating on Base to increase their chances of receiving an airdrop in the future from this project if Coinbase really has serious plans for a native token.
Yep, BASE has not announced that its developers will launch a native token from BASE but the probability level is very high so that many of our communities use BASE for investment and trading, especially their daily trading.
More and more of them trade on DEX with various Meme coins and also use the swap feature of the newly born DEX platform, in order to get volume in case the original BASE token is actually launched.
~snip
If you believe in other L2s like Arb and Op, you can buy ARB and OP now to not miss out on the L2-trend this year.
Arbitrum and Optimism have been abandoned in our community, although only about 2% are used for small transactions, the reason is that Arbitrum and Optimism have launched tokens and provided rewards several years ago.
-
Yep, BASE has not announced that its developers will launch a native token from BASE but the probability level is very high so that many of our communities use BASE for investment and trading, especially their daily trading.
More and more of them trade on DEX with various Meme coins and also use the swap feature of the newly born DEX platform, in order to get volume in case the original BASE token is actually launched.
Arbitrum and Optimism have been abandoned in our community, although only about 2% are used for small transactions, the reason is that Arbitrum and Optimism have launched tokens and provided rewards several years ago.
Base is really bustling thanks to memecoins, but Arb and Op are also being used a lot. They are the best L2s in the Ethereum ecosystem, especially OP with its Op Stack being used by Base and many other L2s.
Currently, ETH price is stagnant and there has been no impressive explosion to create growth for the price of many L2 native tokens. We will wait for that moment, who knows, the BASE token may also be launched if Coinbase really has a plan to take full advantage of this uptrend :)
-
Currently, ETH price is stagnant and there has been no impressive explosion to create growth for the price of many L2 native tokens. We will wait for that moment, who knows, the BASE token may also be launched if Coinbase really has a plan to take full advantage of this uptrend :)
Maybe Base is the network I'm best positioned for if I have an airdrop, as I've made a lot of transactions and use it a lot
However, I'm fully aware that because it's Coinbase's network, and it's a regulated exchange in the United States, the best chance is that an airdrop won't occur
Something may change with the legislation in the Trump era, but I keep my expectations low
What do you think? (about Base and regulations)
-
Maybe Base is the network I'm best positioned for if I have an airdrop, as I've made a lot of transactions and use it a lot
However, I'm fully aware that because it's Coinbase's network, and it's a regulated exchange in the United States, the best chance is that an airdrop won't occur
Something may change with the legislation in the Trump era, but I keep my expectations low
What do you think? (about Base and regulations)
There's no doubt that Base is the most refined project in terms of L2 ecosystem on ETH, but as you said yourself Airdrop expectations are low still in terms of growth BASE is crazy but it doesn't matter like as they are not gonna drop their chain token.
Starknet StRK seems a little better than all others because others except the top ones. Tokenomics are not good at all for any L2 so everybody must consider a check on unlocks before any position even STRK is terrible.
-
Maybe Base is the network I'm best positioned for if I have an airdrop, as I've made a lot of transactions and use it a lot
However, I'm fully aware that because it's Coinbase's network, and it's a regulated exchange in the United States, the best chance is that an airdrop won't occur
Something may change with the legislation in the Trump era, but I keep my expectations low
What do you think? (about Base and regulations)
Base is performing quite well and offers users an attractive option when looking to experience L2 on Eth. Coinbase's decision not to create a separate token is a wise one to avoid unnecessary trouble with the SEC, and the reality has proven that: Base's ecosystem can be sustained without a new native token.
However, under Trump's term, all SEC concerns would be eliminated, and a BASE token could potentially be launched to provide more value and utility for both the ecosystem and users. The upcoming legal framework will provide projects with specific guidance to follow, and Coinbase is very skilled in this area and they will do what is best for Base.
-
Yep, BASE has not announced that its developers will launch a native token from BASE but the probability level is very high so that many of our communities use BASE for investment and trading, especially their daily trading.
More and more of them trade on DEX with various Meme coins and also use the swap feature of the newly born DEX platform, in order to get volume in case the original BASE token is actually launched.
Arbitrum and Optimism have been abandoned in our community, although only about 2% are used for small transactions, the reason is that Arbitrum and Optimism have launched tokens and provided rewards several years ago.
Base is really bustling thanks to memecoins, but Arb and Op are also being used a lot. They are the best L2s in the Ethereum ecosystem, especially OP with its Op Stack being used by Base and many other L2s.
I also checked it on decentralized trading (DEX) like DexScreener where Meme coins in BASE are very much and almost a few seconds Meme coins immediately appear. Maybe because the fee is cheap in BASE so the development of Meme coins there is also very easy to create.
Currently, ETH price is stagnant and there has been no impressive explosion to create growth for the price of many L2 native tokens. We will wait for that moment, who knows, the BASE token may also be launched if Coinbase really has a plan to take full advantage of this uptrend :)
Do you know the leak that Coinbase will launch its native token?
If you know the leak about Coinbase will launch a token please share the information with me.
-
If you know the leak about Coinbase will launch a token please share the information with me.
It has been rumored for years now, and I doubt they'll let people leak their plan just because it might affect how much they make from launching a native token. Most rumors usually involve being active on their base network just like any other L2 project. I think that makes sense unless Coinbase is too greedy and won't airdrop anything. That's such a stupid move because they directly went against the market trend though, so I doubt they'll do that. As always, DYOR.
-
Base is performing quite well and offers users an attractive option when looking to experience L2 on Eth. Coinbase's decision not to create a separate token is a wise one to avoid unnecessary trouble with the SEC, and the reality has proven that: Base's ecosystem can be sustained without a new native token.
However, under Trump's term, all SEC concerns would be eliminated, and a BASE token could potentially be launched to provide more value and utility for both the ecosystem and users. The upcoming legal framework will provide projects with specific guidance to follow, and Coinbase is very skilled in this area and they will do what is best for Base.
I'm in doubt, half of me thinks they can launch a token, the other half thinks they can't
The decentralization of the BASE network would be something cool to happen, in addition to the airdrop there could be decentralized governance and it could become an even more attractive network, independent of Coinbase.
However, Coinbase wouldn't have total control of the BASE network and it seems that the exchange wouldn't want to lose that control since it is now practically the most important exchange in the US, always on the side of regulation.
-
If you know the leak about Coinbase will launch a token please share the information with me.
It has been rumored for years now, and I doubt they'll let people leak their plan just because it might affect how much they make from launching a native token. Most rumors usually involve being active on their base network just like any other L2 project.
In the crypto space, the name "Rumor" is usually "Delayed Fact", do you agree with me? As far as I know, Arbitrum, Optimism, zKsync and all of them based on Ethereum Layer 2 before they launched their native tokens, there were a lot of "Rumors" circulating and the end result was that the fact also became a reality by launching their native tokens in the market.
I think that makes sense unless Coinbase is too greedy and won't airdrop anything. That's such a stupid move because they directly went against the market trend though, so I doubt they'll do that. As always, DYOR.
Coinbase has been the largest and most trusted marketplace for a long time and as far as I know before Binance listing, Coinbase was already present and successful. If Coinbase is really greedy and launched its native token but did not provide airdrop to the community, I think I will hate Coinbase from that moment on at the same time.
-
I'm in doubt, half of me thinks they can launch a token, the other half thinks they can't
The decentralization of the BASE network would be something cool to happen, in addition to the airdrop there could be decentralized governance and it could become an even more attractive network, independent of Coinbase.
However, Coinbase wouldn't have total control of the BASE network and it seems that the exchange wouldn't want to lose that control since it is now practically the most important exchange in the US, always on the side of regulation.
I agree, as the BASE token could come with governance rights through a DAO instead of being led by Coinbase. I think Coinbase's experienced developers will know what's best for their ecosystem and they will decide whether or not to issue the BASE token.
Currently, both Arb and Op still have many issues to resolve regarding the value and utility of their native tokens in the L2 ecosystem. If Coinbase can overcome this challenge or is willing to accept it, I would also be willing to buy BASE tokens when they are introduced :)