If this wave of the BTC ecosystem can rise again, L2s may have a better chance to grow than last time, after all, DeFi has also evolved, with many gameplay such as CeDeFi, restake, etc. But it is also more competitive; last year many L2s raised a lot of money. One advantage of locking BTC is that when BTC prices rise, the TVL also increases. What I value most is still security, followed by returns, so I still hold $STX, but I've already recouped my investment, betting on a rotation of the BTC ecosystem. I always feel that security that has stood the test of time is somewhat better.

Looking at the weekly chart, there is a breakout, but the volume hasn't increased much; the Vol/MC ratio is about 5.2%, which is not high, with a circulation rate of over 80%.