Citing MarsBit, a recent analysis from MessariCrypto's upcoming 'The Crypto Theses 2026' suggests that L1 blockchains are increasingly losing market share and valuation to Bitcoin. The report highlights that Bitcoin dominates 55% of the $3.26 trillion crypto market, while L1s collectively hold $830 billion, or 25.5%. Despite some L1s like Solana showing strong ecosystem growth, their valuation is primarily driven by speculative 'monetary premium' rather than revenue, and most underperformed Bitcoin in 2024-2025. The analysis predicts that L1s will continue to struggle unless they achieve extreme growth, as market confidence in their long-term monetary value is waning.
Why L1 Chains May Continue Losing Ground to Bitcoin in 2026
MarsBitShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.