The Bull Market Signal That Does Not Behave Like A Bull Market
Business
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HasuPanda
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The takeaway is simple. Do not dismiss Layer 2 growth because the data is concentrated. Do not overvalue Layer 2 growth because the data is rising. The next useful question is not whether inflows are positive. The next useful question is whether inflows are becoming less dependent on a small set of routable actors. If they are, the bull market has a wider base than it appears. If they are not, the market is watching a strong current carried by fewer boats than it thinks.