The “too many L2s, no usage” narrative misses the data. In 2025, Layer 2s didn’t just scale — they specialized and absorbed real liquidity, users, and throughput. • STRK: massive TPS + BTC liquidity • ARB: Orbit chains + censorship resistance • POL: AggLayer unifying liquidity • BASE: user growth via Coinbase rails • LINEA: institutional + payments focus • OP: Superchain aggregation • Others: AI, gaming, modular scaling This isn’t fragmentation — it’s market-driven specialization. The question isn’t “too many L2s,” but which ones actually capture value long term? 👀