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Ethereum Layer-2 Solutions Flourish While Competing Chains Plateau, Says Cumberland's Global Head of Trading

According to Jonah Van Bourg, user counts and wallet addresses have plateaued on alternative layer-1 blockchains such as Solana, NEAR, and Polkadot, making their ecosystems "dead on arrival." Meanwhile, Ethereum layer-2 solutions like Arbitrum and Optimism are flourishing.

The total value locked (TVL) on competing chains is comparatively low, with Solana's TVL standing at approximately $320 million, while Ethereum-based layer-2 chains Arbitrum and Optimism have values of approximately $2 billion and $900 million, respectively.

While Avi Feldman disagrees with Van Bourg's assessment, arguing that incentive programs will draw value to competing protocols when the bull market returns, Van Bourg believes that the next bull cycle will be the "show me" stage of crypto, whereby projects need to prove their worth at a practical level.

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