Wu Blockchain (@WuBlockchain): Alliance DAO partner QW tweeted that he questions the long-term value of holding L1 tokens. He said high P/E ratios aren’t the issue—the key problem i…
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Alliance DAO partner QW tweeted that he questions the long-term value of holding L1 tokens. He said high P/E ratios aren’t the issue—the key problem is that L1s lack a moat: users can easily bridge assets, developers can migrate quickly, and new chains are easy to launch, making switching costs much lower than AWS. He suggested that chains should vertically integrate the application layer, as seen with Solana, Base, and Hyperliquid, or focus on the app layer instead of infrastructure to capture exponential value. https://t.co/HRb5B4Y9m8