Unmissable: Will Bitcoin’s L2 Projects Go Extinct? 🤯

Unmissable: Will Bitcoin‘s L2 Projects Go Extinct? 🤯

Picture this: Muneeb Ali, the ever-optimistic co-founder of Stacks, boldly proclaims that a whopping two-thirds of Bitcoin layer-2 (L2) projects are headed for extinction. Yes, folks, get your farewell banners ready—these projects are facing the icy grip of irrelevance within the next three years. Apparently, the initial buzz surrounding them is fading faster than a TikTok trend. 🤷‍♂️

At the glamorous (ish) Consensus 2025 event, Ali quipped during an interview that “the honeymoon phase [for Bitcoin L2s] is a little bit over,” while casually sliding in updates on Stacks (you know, the artist formerly known as Blockstack). Recently, this layer-2 platform underwent a heart transplant—oops, I mean a major upgrade called Nakamoto. And voilà! Users can now enjoy a snazzier experience without having to curse under their breath. 🎉

“And let’s throw in some geek-speak,” Ali continued, “Stacks is now secured by 100% of Bitcoin hash.” Translation: faster confirmations and more security. But don’t start popping champagne yet, because Ali also observed that the Bitcoin L2 ecosystem isn’t exactly rainbows and unicorns. Evidently, the market’s tougher than a stale croissant. 🥐

Moving Beyond the Bitcoin Layer 2 Hype

Here’s the kicker: Ali thinks most Bitcoin projects are akin to New Year’s resolutions—big promises and no follow-through. “My guess is that less than one-third of all Bitcoin projects will endure,” he declared, practically triggering a mass existential crisis among L2 enthusiasts. 😱

But all is not doom and gloom! According to Ali, the chosen ones, including Stacks and Babylon, still have a fighting chance. These are your “blue-chip” projects, the Beyoncé of the blockchain scene. In his words:

“One thing I’ve noticed is that the entire area is a little suppressed right now in terms of trading volumes and market caps, but Stacks’ relative position compared to other projects has actually increased because it’s considered more like a blue chip project.”

So, the next time you’re deciding where to throw your crypto dollars (or cents), think blue chips—because apparently, that’s what the cool kids do. 😎

BTC Mainnet to Attract Key Investments

Switching gears to the alpha of all alphas—Bitcoin itself—Ali predicts that BTC is about to flex its muscles even harder. While Ethereum and Solana quietly sob in a corner, Bitcoin’s mainnet might steal all the limelight and capital, because who doesn’t love the OG? 🥇

Ali also cheekily noted that while memecoins are out here grabbing headlines for no good reason, Bitcoin remains the only asset pulling in fresh buyers. So, if you’re tired of riding the Dogecoin rollercoaster, consider Bitcoin—it’s the dependable dad of the crypto family.

“If memecoins are becoming trendy, capital will come out of L1 infrastructure projects and rotate into the memecoins, but it’s the same capital that’s cycling into different categories. Whereas Bitcoin is probably the only asset that has net new buyers.”

And here comes the pièce de résistance: Ali firmly believes that Bitcoin’s price will never, not in a gazillion years, drop below $50,000. Why? Because history (and a bunch of hedge funds) says so. He even went as far as calling it “almost a self-fulfilling prophecy.” Don’t you love a good sprinkle of inevitability with your morning coffee? ☕ 📈

Bitcoin chart

So there you have it, folks—a spicy cocktail of predictions, sarcasm, and a dash of optimism for the road. Whether we’ll be toasting to Bitcoin’s dominance or mourning L2’s downfall in three years is a cliffhanger for the ages. Stay tuned. 🎬

2025-02-20 18:26

Moving Beyond the Bitcoin Layer 2 Hype

BTC Mainnet to Attract Key Investments

Read More