I wonder how the TL will be when ETH/BTC sets new multi-year | AvgJoesCrypto på Binance Square

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I wonder how the TL will be when ETH/BTC sets new multi-year lows

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BTC

106 066,18

+0.70%

ETH

2 447,8

+1.48%

1

0

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What’s the memecoin for this

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Ethereum L2s are in trouble... is Bitcoin the solution? A Key Takeaway from my latest @MessariCrypto report, "Between a Rock and a Hard Place: L2 Economics." Shrinking fee revenues, @base ’s dominance, intensifying competition from other L2s and Ethereum L1, and valuations detached from fundamentals have put most L2s on unstable footing. Surviving this environment will require bold strategic shifts. Perhaps the boldest of them all is a pivot to Bitcoin. The Bitcoin L2 opportunity is interesting for 3 main reasons: 1) The Bitcoin network itself cannot offer smart contract capabilities or other functionalities offered by L2s, unlike Ethereum. 2) There are no entrenched incumbents in the ecosystem. Using bridged BTC as a proxy for adoption, no single network holds more than roughly 30% of the total supply, with most holding well below 10%. New entrants should have no trouble competing. 3) $BTC, the asset, offers the strongest economic base out of all cryptoassets. Some teams, like @Starknet, are already making this shift to Bitcoin. Over time, I fully expect more Ethereum L2s to "abandon ship" and pivot to the Bitcoin ecosystem.

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Ethereum L2s are in trouble... is Bitcoin the solution? A Key Takeaway from my latest @MessariCrypto report, "Between a Rock and a Hard Place: L2 Economics." Shrinking fee revenues, @base’s sweeping market share, intensifying competition from other L2s and Ethereum L1, and valuations detached from fundamentals have put most L2s on unstable footing. Surviving this environment will require bold strategic shifts. Perhaps the boldest of them all is a pivot to Bitcoin. The Bitcoin L2 opportunity is interesting for 3 main reasons: 1) The Bitcoin network itself cannot offer smart contract capabilities or other functionalities offered by L2s, unlike Ethereum. 2) There are no entrenched incumbents in the ecosystem. Using bridged BTC as a proxy for adoption, no single network holds more than roughly 30% of the total supply, with most holding well below 10%. New entrants should have no trouble competing. 3) $BTC the asset, offers the strongest economic base out of all cryptoassets. Some teams, like @Starknet, are already making this shift to Bitcoin. Over time, I fully expect more Ethereum L2s to "abandon ship" and pivot to the Bitcoin ecosystem.

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I've been building a position in @badbunnz_ NFTs as I believe they're the best way to get liquid exposure to @megaeth_labs and the @0xMegaMafia. Bad Bunnz have cemented themselves as the PFP NFT of choice for the MegaETH ecosystem, which makes them a prime candidate for MegaMafia airdrops. Let's do some quick math 👇 Current mcap of Bad Bunnz = $3.5M. First cohort of MegaMafia projects (15 projects) raised $40M in venture, let's assume their collective valuation is $400M. MegaMafia 2.0 (an additional 15 projects) is currently in progress; let's assume its collective valuation is half of the first cohort's ($200M). Collective MegaMafia FDV = $600M, or $20M FDV per project. (Note: This is probably undershooting it as @GTE_XYZ just reportedly raised at a $150 - $160M valuation, which alone is more than 25% of my above estimate.) Bad Bunnz mcap ($3.5M) / MegaMafia FDV ($600M) = 0.58% Based on my assumptions, the market is currently pricing in Bad Bunnz receiving ~0.58% of the total token supply of MegaMafia projects. This seems quite low, especially if you have even more bullish projections about the MegaMafia ($1B FDV implies 0.35% of supply). The only caveat is @TheFluffleNFT. However, since it is a Soulbound NFT, it is less attractive as both a speculation vehicle and an airdrop target. Finally, as a sanity check, we can compare to @HyperliquidX and @HypioHL. Despite Hyperliquid having an unofficial (although unreleased) NFT collection, Wealthy Hypio Babies trade at a $20 million market cap. In other words, I don't think Fluffle NFTs will be an issue for Bad Bunnz.

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Very impressed with ⁦@zora⁩, might start coining things https://zora.co/avgjoescrypto

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