Is the L2 market becoming too saturated? 
Do we even need too many L2s or its just a cash cow for VCs and Airdrop hunters? 

NFTgators shows that Blast's TVL is down 62% from its ATH, while the number of daily active users is at the lowest in 6 months. 

Data from growthepie shows that the number of daily users on Blast dropped to 27,800 on August 18, which was the lowest level since the end of February, when the scaling solution launched.

Aside from established L2s like Arbitrum, Base, and Optimism; several other L2s like Starknet, Blast and Taiko who issued their tokens this year have suffered a significant reduction in key metrics:

Is the L2 market becoming too saturated? 
Do we even need too many L2s or its just a cash cow for VCs and Airdrop hunters? 

NFTgators shows that Blast's TVL is down 62% from its ATH, while the number of daily active users is at the lowest in 6 months. 

Data from growthepie shows that the number of daily users on Blast dropped to 27,800 on August 18, which was the lowest level since the end of February, when the scaling solution launched.

Aside from established L2s like Arbitrum, Base, and Optimism; several other L2s like Starknet, Blast and Taiko who issued their tokens this year have suffered a significant reduction in key metrics:

https://www.nftgators.com/blasts-tvl-declines-sharply-active-users-drop-to-six-month-low/