I read online about how Layer 2 projects like optimism and Arbitrum have both flipped solana in TVL, are Layer 2 projects going to take over Solana in future? Also solana is the only project that is not EVM chain compatible, how is this not bad for Solana?.
The competition is real and obviously Solana lost too many users after latest hacks and problems. The credibility of Solana founders is not the same. When there are better L2 blockchain alternatives it's natural for people to switch. Projects also follow this path and while Solana prides on hosting so many projects, they are losing important developers to their competitors. If they don't take action soon they will also lose their top ten spot.