I've always been very bullish on Ethereum.

But little is being said about the fact that Uniswap, which generated $500M in fees, has created its own L2.

All those fees will go into Uniswap's pocket, not to mention the loss of demand for $ETH.

Ethereum is evolving as a blockchain but its inefficiencies gave value to its cryptocurrency.

I'm not sure if the increase in adoption will make up for the fact that exorbitant fees are no longer paid for doing a simple swap, and if that will continue to generate a brutal demand for Ether.