@accusedg

Layer 2 tokens often struggle to capture value directly from scaling activity. Unlike L1 tokens, their role in fee capture and security is less clear. To justify high valuations, L2 tokens must accrue value from sequencer fees, staking, or ecosystem growth. Otherwise, they risk being coordination tools without financial substance. Value capture depends on whether tokens become integral to economic flows, not just governance. Without clear utility, Layer2 tokens may remain speculative instruments.

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