Narratives
What the data says about Layer 2 and scaling as a crypto narrative: the money going in, who puts it there, how much it is talked about and the projects behind it. It says what is happening; it recommends nothing.
Money is moving into Layer 2 and scaling; Spicenet is the project with the most funding there ($5.0M); it has no token yet; its presale: not yet.
- Seeded
- Funded
- Noticed
- Crowded
- Cooling
This week, in plain words
- Layer 2 and scaling is Seeded since the week of Oct 22: first money from funds, and the news has not noticed.
- No new round this week; 1 round in the last 30 days, $5.0M in total.
- It took 0.8% of our news this week, up from 0.5% the week before.
- Its coins did 1.6 pts worse than the market over 7 days.
- Of the 1 project that raised here, 1 has no token yet.
- Funding activity is down on the previous period (-30%). Market mood: fear (29 of 100). Altcoin index 43 of 100.
Rounds, 30 d1vs 0 before
With top funds0rounds
Raised, 30 d$5.0M1 with a figure
Share of news0.5%108 stories
No token yet1of 1 projects
Twelve weeks i
Rounds a week 1
Share of news 1.0%
Coins vs market ±5 pts
Stage
week to Aug 26this week
rounds with a top fundother roundsshare of newscoins ahead of the marketbehindrebuilt from past data
Read the twelve weeks as a table
| Week to | Rounds | Top funds | Raised | News | Coins vs market | Stage |
|---|---|---|---|---|---|---|
| Nov 11 | 0 | — | — | 0.8% | -1.6 pts | Seeded |
| Nov 4 rebuilt | 0 | — | — | 0.5% | -1.3 pts | Seeded |
| Oct 28 rebuilt | 1 | — | $5.0M | 0.3% | -4.3 pts | Seeded |
| Oct 21 rebuilt | 0 | — | — | 0.5% | -4.5 pts | — |
| Oct 14 rebuilt | 0 | — | — | 0.6% | +4.6 pts | — |
| Oct 7 rebuilt | 0 | — | — | 0.8% | +0.3 pts | — |
| Sep 30 rebuilt | 0 | — | — | 1.0% | — | — |
| Sep 23 rebuilt | 0 | — | — | — | — | — |
| Sep 16 rebuilt | 0 | — | — | — | — | — |
| Sep 9 rebuilt | 0 | — | — | — | — | — |
| Sep 2 rebuilt | 0 | — | — | — | — | — |
| Aug 26 rebuilt | 0 | — | — | — | — | — |
Projects to watch i
| Project | Last round | Funds | Token | News | Social | Sale |
|---|---|---|---|---|---|---|
| Spicenet | Oct 2026 · Series A · $5.0M | dao5 (daofive)AccVenturesBabylon | No token yet | — | — | Not yet |
Funds in Layer 2 and scaling i
| Fund | Tier | Rounds | This month | Led | Projects | First here |
|---|---|---|---|---|---|---|
| dao5 | Tier 3 | 1 | 1 | 1 | Spicenet | Oct 27, 2026 |
| AccVentures | — | 1 | 1 | — | Spicenet | Oct 27, 2026 |
| Babylon | — | 1 | 1 | — | Spicenet | Oct 27, 2026 |
| Anagram | Tier 2 | 1 | — | — | OP_NET | Mar 1, 2026 |
| Robot Ventures | Tier 2 | 1 | — | — | Payy | Mar 1, 2026 |
| Big Brain Holdings | Tier 3 | 1 | — | — | Akave | Mar 1, 2026 |
| DBA | Tier 3 | 1 | — | — | Payy | Mar 1, 2026 |
| Protocol Labs | Tier 3 | 1 | — | — | Akave | Mar 1, 2026 |
| Epoch Ventures | Tier 4 | 1 | — | — | Ark Labs | Mar 1, 2026 |
| FirstMark | — | 1 | — | 1 | Payy | Mar 1, 2026 |
| Further Ventures | — | 1 | — | 1 | OP_NET | Mar 1, 2026 |
| Anchorage Digital | — | 1 | — | — | Ark Labs | Mar 1, 2026 |
| Arcanum Capital | — | 1 | — | — | OP_NET | Mar 1, 2026 |
| Avalanche Foundation | — | 1 | — | — | Akave | Mar 1, 2026 |
Funds that invest together
No two funds have shared more than one round here yet.
Entry valuation vs now
Not yet: no round here gave a valuation for a project that now trades.
After the round i
| Project | Round | Token | Since |
|---|---|---|---|
| Spicenet | Oct 27, 2026 | No token yet | — |
| ADI Chain | Jul 1, 2026 | Already traded | — |
| Payy | Mar 1, 2026 | Listed | — |
| Akave | Mar 1, 2026 | No token yet | — |
| OP_NET | Mar 1, 2026 | No token yet | — |
| Ark Labs | Mar 1, 2026 | Already traded | -40.2% |
| H | Jan 1, 2026 | Listed | -49.7% |
Its rounds i
| Date | Project | Round | Raised | Category | Investors |
|---|---|---|---|---|---|
| Oct 2026 | Spicenet | Series A | $5.0M | Layer 2 and scaling | dao5 (daofive)BabylonAccVentures |
| Jul 2026 | ADI Chain | — | $50.0M | Layer 2 and scaling | Not disclosed |
| Mar 2026 | Payy | Seed | $6.0M | Layer 2 and scaling | FirstMarkDBARobot Ventures |
| Mar 2026 | Akave | Seed | $6.7M | Layer 2 and scaling | Protocol LabsNo Limit Holdings (NLH)Blockchange VenturesLightshift+3 |
| Mar 2026 | OP_NET | — | $5.0M | Layer 2 and scaling | Further VenturesAnagramArcanum CapitalHumla Ventures+4 |
| Mar 2026 | Ark Labs | Seed | $5.2M | Layer 2 and scaling | TetherEgo Death CapitalAnchorage DigitalEpoch Ventures+5 |
| Jan 2026 | H | — | — | Layer 2 and scaling | Hex Trust |
Read Nov 11, 08:42 UTC. Rounds by month are dated the day they became known.