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The liquidity spread on Binance is so wide right now that an asset like $OP $ARB $APT $SUI could drop 30-70% in price if investors decided to sell just 5% of tokens from the monthly unlocks…
And they could also do this throughout the downtrend…
That’s why even though all these l2/l1s are doing well in terms of adoption and growth, I think fundamentally DeFi tokens that accrue value directly from ETH or ETH-related tokens in some form will stay ahead.
The current value of L1/l2s tokens is driven solely by SOV. And other tokens like Lido, Pendle, GMX, UNI or Maker are essentially large funds that manage large amounts of ETH deposits to some extent.
Not even 10% of these deposits are in l1/l2s ready for mass adoption.
And they could also do this throughout the downtrend…
That’s why even though all these l2/l1s are doing well in terms of adoption and growth, I think fundamentally DeFi tokens that accrue value directly from ETH or ETH-related tokens in some form will stay ahead.
The current value of L1/l2s tokens is driven solely by SOV. And other tokens like Lido, Pendle, GMX, UNI or Maker are essentially large funds that manage large amounts of ETH deposits to some extent.
Not even 10% of these deposits are in l1/l2s ready for mass adoption.
Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
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