ChainCatcher message, 1confirmation founder Nick Tomaino stated in a post on X that there is no competitive relationship between Ethereum and other later L1 ecosystems. In terms of product innovation and as a native token of currency, other projects cannot compare.

He pointed out that the real competition is between Bitcoin (BTC) and Ethereum (ETH), with Bitcoin as the 'big boss' that must be respected. Meanwhile, Ethereum has accumulated strong momentum in distribution through L2 and L3 technologies and new applications from Wall Street.