Major EVM Layer 2 tokens post double-digit declines in the past month as concerns over Ethereum’s scaling strategy persist.
Ethereum’s Layer 2 (L2) tokens continued their decline, with all major EVM-compatible tokens recording double-digit losses over the past month. Mega (MEGA) led the downturn, falling 34.8%, followed by ZK (-27.3%) and StarkNet (STRK) (-22%). Optimism (OP), Immutable (IMX), Linea, and Mantle (MNT) also dropped between 10.2% and 19.5%.
The sell-off follows Ethereum co-founder Vitalik Buterin’s recent criticism of the current L2 roadmap, questioning its long-term viability. The sector has struggled to regain momentum since, with investors reassessing the scalability narrative. Prior months saw similar declines, though not uniformly across all tokens.
Market reaction has been muted, with trading volumes remaining subdued amid broader crypto market uncertainty. Analysts suggest the declines may reflect broader skepticism about L2 adoption timelines and competition from alternative scaling solutions.