In the recent market trends, I choose to focus on UNI. This decision is not solely based on the unique performance of unichain but stems from continuous observation of the data changes in the entire Layer 2 (L2) ecosystem.

As a mid-term entrant in the L2 track, unichain has not been particularly impressive in its performance, and its pace of development has been relatively steady. However, in terms of key indicators such as Total Value Locked (TVL) and trading volume, it still ranks in the top five, demonstrating a certain level of resilience.

In contrast, the subsequent emerging L2 projects have been disappointing. Most projects lack substantial content and only scratch the surface. Not only is their project progress slow, but their data performance is also unsatisfactory. Overall, these projects exhibit highly homogeneous characteristics, lacking innovation, which has led to their gradual marginalization in the market, making the possibility of a comeback quite bleak.

Once highly regarded projects like StarkNet, Linea, Scroll, and Blast, although once in the spotlight, now upon reevaluation, seem to have lost almost all competitive advantages, giving the impression that they have already "died once," with their popularity completely fading.

Looking to the future, if UNI can successfully expand its Layer2 business and create a synergistic effect with the existing unichain business, it may only be a matter of time before UNI's market capitalization returns to the top ten. However, all of this requires UNI to stand out in the fierce L2 competition, demonstrating unique advantages and sustained innovation capabilities.