Ethereum, Solana Defy L1 Myth — Bitwise CIO Sees Prediction Markets Changing Everything

The idea that Layer 1 blockspace has become a commodity may be premature, according to Bitwise CIO Matt Hougan, who argues that institutional behavior tells a very different story. Hougan pushed back on what he described as an “increasing view in crypto that L1 blockspace is a commodity. Institutional Capital Clusters on Top-Tier Chains as On-Chain Prediction Markets Redefine Information Edge According to the Bitwise executive, if infrastructure were truly commoditized, capital and development would be evenly distributed across chains. Instead, the vast majority of institutional building is taking place on very few chains (Ethereum, Solana, etc source: https://beincrypto.com/bitwise-cio-layer1-commoditization-prediction-markets/