| gm Bankless Nation,
Nonstop good news from the SEC didn't stop BTC from dropping below $80k last night. Let's get you up to speed! Today's Issue ⬇️ - ☀️ Need to Know: BTC's 21% Feb. Fall
BTC has worst February since Mt. Gox. - 🗣️ Analysis: Are L2s Worth Launching?
The case for fresh L1s amid many L2s.
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Sponsor: Uniswap Labs — Unichain is live! Bridge & swap with Uniswap Labs' web app or wallet. . . . NEED TO KNOW BTC's Worst Feb. Since Mt. Gox - 🪙 Bitcoin’s February Performance Marks Worst Since Mt. Gox. Hovering around $80,000, the OG crypto is reeling from weak macro sentiment and reduced institutional flows.
- 📈 CME Group to Launch Solana Futures on March 17. The derivatives giant is expanding beyond Bitcoin and Ether with two contract sizes, amid growing institutional interest and pending regulatory approval.
- 🏛️ Ex-Congressman McHenry Joins Ondo Finance as Senior Advisor.
The crypto advocate aims to drive regulatory clarity and tokenized-asset adoption, adding to his advisory roles with A16Z and Stripe.
📸 Daily Market Snapshot: After knifing down to below $80,000, Bitcoin and other majors had a swift V-shaped recovery, with Solana rallying even in the face of major FTX estate unlocks. | Prices as of 5pm ET | 24hr | 7d |  | Crypto $2.78T | ↗ 0.4% | ↘ 13.9% |  | BTC $83,819 | ↗ 1.2% | ↘ 11.9% |  | ETH $2,206 | ↘ 2.5% | ↘ 16.2% | . . . ANALYSIS Are L2s Still Worth Launching? Over the past year, enthusiasm for Layer 2 rollups — long praised for their scalability, lower fees, and rapid launches — has significantly cooled off. Over 140 L2s are live, yet fewer than half exceed $10M in TVL, fueling consensus that the ecosystem is oversaturated, with Ethereum’s underperformance further dampening the mood. Meanwhile, “alt” L1s — most notably Solana, though also Sui and Hyperliquid — have demonstrated remarkable economic potential in both fundamental growth and token price, prompting many to consider a fresh L1 more compelling than yet another L2. Against this backdrop, choosing between launching or investing in an L2 or an L1 is less obvious than a year ago. Although L2s once dominated headlines, oversaturation and ETH’s underperformance continue fueling interest in L1s, whose economics, design freedom, and competitive advantages may now look more attractive. Let's dive in here and help you get a clearer picture of the current tradeoffs between new L1s and new L2s! 👇
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