Cyber Capital founder: Ethereum is declining, L2 is actually stealing Ethereum users and fees
According to the news from Mars Finance, Justin Bons, the founder of Cyber Capital, posted on the X platform, stating that Ethereum is in decline, and L2 is "dancing on its grave". Bons pointed out that since the implementation of EIP-4844 (Proto-Danksharding), Ethereum's fee revenue has declined significantly, unable to keep up with the rate of inflation. At the same time, the usage and fee revenue of L2 networks have reached new highs, and they are lobbying to maintain Ethereum's low capacity. Bons believes this constitutes a "parasitic relationship". He stated that L2 networks are actually stealing Ethereum's users and fees, attracting users by disguising themselves as "the same as Ethereum". Bons predicts that L2 networks will eventually migrate or become independent L1 networks, while Ethereum will gradually decline. He criticized Ethereum's leadership for "selling out" its own interests for the sake of L2 networks, believing this exposes systemic problems in governance. Bons warned that if Ethereum were to make a breakthrough in expanding L1 in the future, it could lead to the collapse of the token and equity prices of all L2 networks, and therefore L2 networks have the motivation to prevent Ethereum's expansion.
