This bull market has changed all the logic except for MEME coins. Last year, the logic for MEME coins also changed. Looking back at many of my previous comments and token valuation predictions, I was basically wrong about everything. The only thing I got right is—Layer2 is all trash, and its valuation can never reach hundreds of billions. When Vitalik said yesterday that 'the vision of L2 as branded shards expanding Ethereum is no longer valid,' the great purge of L2 has begun. A bunch of them are going to die.