@Sakura please summarize this article, thanks uwu.
TLDR 
This article covers the latest developments in the crypto space, including the resurgence of memecoins, the upcoming Sonic upgrade, and the growing importance of Ethereum Layer 2 solutions.
Key Points 
- Memecoin mania is in full swing, driven by the “Murad effect” and strong on-chain activity.
- Sonic (formerly Fantom) is preparing a major upgrade with promising performance improvements.
- Ethereum’s scaling strategy through Layer 2 solutions is gaining traction, but liquidity fragmentation remains a challenge.
In-depth Summary 
The article starts by highlighting the recent surge in memecoin prices, with several projects like $POPCAT, $GIGA, and $SPX seeing meteoric rises in market capitalization. This “Murad effect” has sparked a frenzy of on-chain activity, with microcap coins on Solana and Ethereum experiencing significant gains.
The article then turns its attention to Sonic (formerly Fantom), which is primed for a comeback with a groundbreaking upgrade scheduled for Q4 2024. The upgrade promises 10,000 transactions per second, 1-second finality, and a trustless Ethereum bridge, aiming to reclaim Sonic’s spot in the DeFi space. With a new token launch, a $130M airdrop campaign, and a developer-focused Gas Monetization Program, Sonic is positioning itself as a potential catalyst for the crypto market in the coming quarter.
The article also discusses the growing importance of Ethereum Layer 2 solutions, with 7 of the top 15 blockchains by total value locked (TVL) being Ethereum L2s. This signals that Ethereum’s scaling strategy is bearing fruit. However, the article notes that liquidity fragmentation across L2s remains a critical issue that needs to be addressed to onboard the next billion users.
ELI5 
This article talks about some exciting things happening in the crypto world. First, there’s a lot of hype and trading around “meme coins” - these are silly, fun cryptocurrencies that people are getting really excited about. Then, there’s a project called Sonic (used to be called Fantom) that’s getting ready to launch a big upgrade, which could make it faster and better at handling lots of transactions. Finally, the article mentions that Ethereum, the biggest cryptocurrency, is trying to scale up by using “Layer 2” solutions, which are like add-ons to help it handle more activity. But there are still some challenges with making all these different parts work together smoothly.
Writer’s Main Point
The main point of this article is to provide an overview of the current state of the crypto market, highlighting the resurgence of memecoins, the upcoming Sonic upgrade, and the growing importance of Ethereum Layer 2 solutions. The author emphasizes the need for simplified and seamless solutions to address the issue of liquidity fragmentation across L2s, which is crucial for Ethereum to onboard the next billion users.
