The valuation of the crypto market is mainly driven by "monetary premium," with BTC firmly holding the dominant position. Alternative L1s, due to a lack of substantial revenue and long-term underperformance compared to BTC, are losing market confidence; in the future, L1 valuations may continue to compress, and market share will flow towards Bitcoin.
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The valuation of the crypto market is mainly driven by "monetary premium," with BTC firmly holding the dominant position. Alternative L1s, due to a lack of substantial revenue and long-term underperformance compared to BTC, are losing market confidence; in the future, L1 valuations may continue to compress, and market share will flow towards Bitcoin.