2025-12-26 10:25:39

It seems that the window for Perp DEX in the L2 track has already closed. The early dividends from OP and Arbitrum are basically out of reach.

What’s next? Two possibilities: one is that projects like Linea will go through a long period of dormancy; the other is that a few players like zkSync will suddenly take off, but only a handful will be able to share the benefits.

This is the pattern of evolution in the L2 and DEX ecosystems—if you missed that wave, coming in now means you need to be prepared for a long-term battle.

OP1.37%

ARB0.05%

LINEA0.07%

ZK0.1%

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BtcDailyResearcher

· 8h ago

Closing the window period is too pessimistic. OP and Arbitrum have benefited from the dividends, but that doesn't mean later entrants have no chance. It all depends on who can find the real liquidity trough in this round of zkSync or Linea.

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LeekCutter

· 8h ago

Had I known earlier, I wouldn't have bothered with L2. Entering now is really just playing the role of a bagholder. If you can't catch up with OP's wave, don't even think about it. The so-called long-term battle sounds nice, but it's actually just the night before a cut. How likely is zkSync to turn around? It feels like self-deception. We definitely missed this wave, huge loss. It's another ecosystem death cycle—getting in early for quick riches, getting in late to zero, with no middle ground. Linea's silence is inevitable. Who still cares about the Nth L2? Institutions have already figured it out, retail investors can only wait for the next track.

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AirdropHunter007

· 8h ago

Honestly, I really missed out on this wave. I didn't catch the boom of OP and Arbitrum either, now I just feel regretful. Wait, will zkSync really take off suddenly? It feels like we've been talking about this for a long time... Sticking to a long-term battle sounds easy, but in reality, most people probably can't hold on that long. How's Linea doing? Is anyone playing there? But on the other hand, these new L2s still need to take a shot; it's better than just lying flat.

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FOMOSapien

· 8h ago

Awakening was too late; OP definitely missed that wave. zkSync is about to take off? I'll wait and see; anyway, jumping in now just makes me a bagholder. The L2 track is like this: early movers made a fortune, later entrants suffered heavy losses, and there are no new tricks. Honestly, instead of chasing the trend, it's better to stay steady. Playing the long game is really just about waiting for the next cycle. Projects like Linea have been in a dormant period for too long; I can't stand it. I'd rather hold mainstream ones.

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