Pudgy Penguins’ Abstract becomes second Ethereum layer 2 to shut in a week

Crypto Insight Summary: The consumer-focused blockchain will close Dec. 15 after Igloo spent tens of millions supporting it, days after Blast said its own network was no longer worth operating. Crypto Insight Analysis: Direction: Bearish ETH Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Another Ethereum L2 shutdown raises concerns about ecosystem stability.