According to @Nick_van_Eck, Monad’s public mainnet and the MON token launch on Solana show that L1/L2 rails have improved exponentially and now act as high-liquidity venues for users, assets, and trading flows, directly relevant to onchain volume and execution quality, source: @Nick_van_Eck on X, Nov 27, 2025. He reports Monad averaged 45 TPS on Day 4 with very low costs, indicating fast, cheap transactions that can support active trading strategies, source: @Nick_van_Eck on X, Nov 27, 2025. He states Solana can deliver a large-CEX-level user base and volume without high fees, positioning SOL’s ecosystem as a competitive trading venue for DEX activity, source: @Nick_van_Eck on X, Nov 27, 2025. He notes Hyperliquid emerged as a fully onchain, high-performance venue and then launched its own rail, underscoring a shift to onchain market infrastructure, source: @Nick_van_Eck on X, Nov 27, 2025. He adds that improving interoperability and performance with open standards like EVM and SVM will drive network effects, with DEXs and onchain apps continuing to gain market share, source: @Nick_van_Eck on X, Nov 27, 2025.