I’m bearish on Ethereum. But it may not be for the reason you think. Transition from single chain to layer 1-layer 2 structure has large implications for ETH token valuation. And most people aren’t yet thinking this through 👇 First off I wrote abt how to value blockchain…

If you have trouble figuring out which layer 1 blockchains are investment worthy, it’s not your fault. There’re more L1 chains than Italian restaurants in NYC & things are changing fast. Hard to keep up. Let’s go through major L1s one by one & assess prospect for each.…