以太坊 (ETH) 或 L2 代币：哪个更好？

DeFi 报告加密货币分析师 Michael Nadeau 通过强调以太坊的进展和当前积极的市场状况来开始他的分析。

Crypto analyst Michael Nadeau kicks off his analysis by highlighting Ethereum’s progress and the current positive market conditions. He points out that Ethereum is scaling effectively through Layer 2 (L2) solutions, anticipates an ETF trading by summer, and notes influential figures like Larry Fink discussing tokenization. Plus, with potential rate cuts on the horizon, Nadeau sees a strong case for being bullish on Ethereum.

加密货币分析师 Michael Nadeau 通过强调以太坊的进展和当前积极的市场状况来开始他的分析。他指出，以太坊正在通过第 2 层 (L2) 解决方案进行有效扩展，预计 ETF 会在夏季进行交易，并指出拉里·芬克 (Larry Fink) 等有影响力的人物正在讨论代币化。此外，随着可能的降息，纳多认为有充分理由看好以太坊。

He’s asking whether investors should hold Ethereum (ETH), L2 tokens, or both.

他询问投资者是否应该持有以太坊（ETH）、L2 代币，或者两者都持有。

Analysts have some answers for you.

分析师为您提供了一些答案。

Which Ethereum (ETH) or L2 tokens are better?

以太坊 (ETH) 或 L2 代币哪个更好？

Michael Nadeau’s series of X posts highlights the significant contributions and market positioning of top Layer 2 (L2) solutions in the Ethereum ecosystem. He points out that L2s now hold 15% of Ethereum’s total value locked (TVL) and contribute 15% of its transaction fees. Plus, they have 4.7 X more active addresses and handle 6.7 times more daily transactions than Ethereum’s Layer 1 (L1), with twice the developer activity.

Michael Nadeau 的 X 帖子系列强调了以太坊生态系统中顶级第 2 层 (L2) 解决方案的重大贡献和市场定位。他指出，L2 目前持有以太坊锁定总价值 (TVL) 的 15%，并贡献其交易费用的 15%。此外，它们的活跃地址数量是以太坊第 1 层 (L1) 的 4.7 倍，处理的每日交易量是以太坊第 1 层 (L1) 的 6.7 倍，开发人员活动是其两倍。

Despite this, L2s have only 2.4% of Ethereum’s token holders, represent just 9% of Ethereum’s fully diluted market cap, and account for only 2.7% of its circulating market cap. This disparity suggests that L2s might be undervalued relative to their impact on the Ethereum network.

尽管如此，L2 仅占以太坊代币持有者的 2.4%，仅占以太坊完全稀释市值的 9%，仅占其流通市值的 2.7%。这种差异表明，相对于对以太坊网络的影响，L2 的价值可能被低估。

Investor Interest in L2 Tokens

投资者对 L2 代币的兴趣

With his deep analysis, the analyst notes that there could be potential investment opportunities in L2 solutions given their growing importance and current undervaluation. Investors might consider diversifying their portfolios to include both Ethereum (ETH) and leading L2 tokens to maximize exposure to the ecosystem’s growth and scalability advancements.

通过深入分析，分析师指出，鉴于 L2 解决方案的重要性日益增长且目前估值被低估，L2 解决方案可能存在潜在的投资机会。投资者可能会考虑使其投资组合多样化，将以太坊 (ETH) 和领先的 L2 代币纳入其中，以最大限度地受益于生态系统的增长和可扩展性的进步。

Nadeau explores whether investors are inclined to hold L2 tokens. He notes that OP and ARB are the most popular L2 projects based on token holders. For context, Ethereum currently has over 123 million token holders.

Nadeau 探讨了投资者是否倾向于持有 L2 代币。他指出，OP 和 ARB 是基于代币持有者最受欢迎的 L2 项目。就背景而言，以太坊目前拥有超过 1.23 亿代币持有者。

Correlation with ETH Price

与 ETH 价格的相关性

In conclusion, he mentions that L2 tokens also exhibit a correlation with Ethereum’s price. ARB has an all-time correlation coefficient of 0.70 with ETH, while OP has a correlation coefficient of 0.61, indicating a significant but not perfect correlation.

最后，他提到 L2 代币也表现出与以太坊价格的相关性。 ARB 与 ETH 的历史相关系数为 0.70，而 OP 的相关系数为 0.61，表明存在显着但不完美的相关性。

At present, Arbitrum (ARB) is ranked 38th on CoinMarketCap with a market cap of $2 billion. It has risen 5.79% in the past 24 hours, trading at $0.820238 with a 24-hour trading volume of $257 million. Whereas, Optimism (OP) is ranked 42th trades at $1.92 with $248 million in 24-hour activity. Both are showing blazing signs of growth and investor confidence despite the market downturn.

目前，Arbitrum（ARB）在CoinMarketCap上排名第38位，市值为20亿美元。过去24小时上涨5.79%，交易价格为0.820238美元，24小时交易量为2.57亿美元。而 Optimism (OP) 则以 1.92 美元的价格排名第 42 位，24 小时交易额为 2.48 亿美元。尽管市场低迷，但两者都显示出强劲的增长迹象和投资者信心。

Read Also: Ethereum Supply Surges Post-Dencun Upgrade: What It Means for Investors

另请阅读：Dencun 升级后以太坊供应激增：这对投资者意味着什么

What you will pick ETH or L2 Tokens? Tell us.

您会选择 ETH 还是 L2 代币？告诉我们。