Blockchain.com co-founder and CEO Peter Smith said backing Layer 1 blockchains has proven to be a very successful bet in the past, and will likely continue to be so, although none of them really threaten Ethereum.
If Solana, Avalanche, and Near Protocol were the first wave of so-called Ethereum killers, then Aptos and Sui were the second.
“None of these alternatives to Layer 1 are close to beating Ethereum, but they have made investors a lot of money,” Smith said. “If you are an early investor in Layer 1, there is some scale, even small, that creates for you Amazing returns.”