@thekris
New 21Shares outlook: most Ethereum L2s won’t survive past 2026.
📉 Usage on smaller L2s down 61%
⚖️ ~90% of L2 activity concentrated on @base.base.eth , @arbitrum , @optimism
🟦 Base alone processes 60%+ and was the only L2 profitable in 2025
The L2 market is consolidating fast — liquidity, developers, and revenue are clustering around a few winners.
cc: @vittoriocappelli , @optimismshow
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