Value judgment on Ethereum Layer 2. He believes that there is a theoretical "glass ceiling" in Layer 2 valuation. Ethereum L1 ensures the security of L2 activities through its consensus mechanism, thus theoretically limiting the value of L2 to not exceed L1. And individual Layer 2s may still do well, but that's more due to idiosyncratic reasons rather than general growth across the industry. Beyond that, he believes aggressive token releases and incentives will continue in this cycle until a clear winner emerges from the Layer 2 competition.
