# Why We're Bullish L2s

*Author: Ryan Sean Adams, David Hoffman*
*Published: Jan 17, 2024*
*Source: https://www.bankless.com/fr/why-were-bullish-l2s*

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Are L2 tokens worthless governance coins? Will they accrue value? Are L2 tokens bullish? Ryan and David dive into the details in this week’s episode of Bankless Takes. 

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## TIMESTAMPS & RESOURCES
0:00 Intro

3:03 L2s Numbers

https://www.growthepie.xyz/fundamentals/daily-active-addresses

https://l2beat.com/scaling/summary

https://defillama.com/chains

16:55 Tokens Worthless?

https://x.com/RyanSAdams/status/1745919415604883725

32:30 P/E Ratios

36:05 Token Valuations

38:40 Alt-L1 Bull Case 

44:40 Summarizing 

47:00 Closing & Disclaimers