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Are L2s Still Worth Launching? The L1 vs. L2 Showdown

As the L2 landscape cools and Ethereum’s performance lags, Layer 1 chains beckon with full design freedom, direct fee capture, and new growth potential.
Are L2s Still Worth Launching? The L1 vs. L2 Showdown
David Christopher David Christopher
Feb 28, 2025 • 7 min read
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Over the past year, enthusiasm for Layer 2 rollups — long praised for their scalability, lower fees, and rapid launches — has significantly cooled off. 

Over 140 L2s are live, yet fewer than half exceed $10M in TVL, fueling consensus that the ecosystem is oversaturated, with Ethereum’s underperformance further dampening the mood.

Meanwhile, “alt” L1s  — most notably Solana, though also Sui and Hyperliquid — have demonstrated remarkable economic potential in both fundamental growth and token price, prompting many to consider a fresh L1 more compelling than yet another L2.

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* Bankless team holds crypto assets and advise crypto projects. AltLayer and Conduit are included in our disclosures. See our complete investment disclosures here


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David Christopher

Written by David Christopher

609 Articles • View all      

David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

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