According to @alice_und_bob, the Ethereum L2 thesis is not dead and the market will see hundreds of private and public L1s and L2s, shaping how users and liquidity are distributed across chains. According to @alice_und_bob, there will not be a single winning architecture for scaling, making interoperability the decisive factor for value capture and execution quality across ETH-linked ecosystems. According to @alice_und_bob, this outlook makes cross-chain interoperability and liquidity routing the core trading focus for positioning across ETH L2s and alternative L1s.

According to @alice_und_bob, general-purpose chains will become less relevant while revenue-capturing fat protocols return to focus, indicating a shift in where value accrues onchain (source: @alice_und_bob on X, Aug 11, 2025). According to @alice_und_bob, big enterprises will want to build their own chains, making simplified tech stacks and bridge infrastructure a priority so corporate networks can be spun up quickly (source: @alice_und_bob on X, Aug 11, 2025). According to @alice_und_bob, traders should tilt toward application-specific, revenue-generating protocols and monitor demand for bridge tooling as a key leading indicator over generalized L1 exposure (source: @alice_und_bob on X, Aug 11, 2025).