▲On-Chain Capital Concentrates

Score history

Daily conviction score, 0 to 100. Higher means the thesis is more strongly corroborated.

Now 98 · +1 since Oct 28 · ranged 97 to 98

Showing the last few days. Unlock full score history.

Why the conviction moved

• Oct 29
  Strengthened +1

  L2Beat data show value secured on the largest layer-2 networks fell between 2.4% and 29.5% in one week. That confirms the contraction, but the drop hit the largest networks too, which is weaker support for the concentration half of the thesis.

• Oct 27
  Strengthened +1

  Total value secured on OP Mainnet fell 13% in a week, one more sign that capital is leaving second-tier networks while it concentrates elsewhere.

Showing the last 2 days. Unlock the full record.

Source trail

• Supporting · October 29, 2026

  Ethereum Researcher Proposes "Ephemeral Rollups" That Hold No Lasting User State as Layer-2 Deposits Fall Across the Board

  L2Beat data show value secured on the largest layer-2 networks fell between 2.4% and 29.5% in one week. That confirms the contraction, but the drop hit the largest networks too, which is weaker support for the concentration half of the thesis.

  Ethereum Research

• Supporting · October 27, 2026

  The Optimism Foundation proposes ending token-holder elections for Security Council seats and letting a council lead nominate members

  Total value secured on OP Mainnet fell 13% in a week, one more sign that capital is leaving second-tier networks while it concentrates elsewhere.

  CryptoSlate