Pudgy Penguins Team to Shutter Ethereum Layer 2 Network Abstract

Crypto Insight Summary: Another Ethereum Layer 2 chain bites the dust: Just days after the creators of the once-hyped Blast said they’re shutting down the scaler, Abstract is about to follow suit. On Tuesday, Igloo Inc.—the company behind the crypto-native Pudgy Penguins IP—said that it will shut down Abstract, its Ethereum Layer 2 network that launched in mainnet […] Crypto Insight Analysis: Direction: Neutral Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Abstract's shutdown is minor for Ethereum as it's a small L2 with limited adoption.