L2 'sucking blood', ETH falls to a five-year low? VC bluntly states: this may be a 'complete failure' investment!
Ethereum (ETH) has recently shown concerning market performance, with the ETH/BTC ratio falling to its lowest point in five years (0.02260), leading many investors to even question: has ETH as an investment already 'died'?
Why has ETH fallen into a low point? VC gives two fatal reasons. Nic Carter, a partner at Castle Island Ventures, bluntly pointed out in a post on X on March 28 that the greed of the L2 ecosystem has drained the value of Ethereum L1, coupled with the community's lack of opposition to token inflation, these factors have jointly led to a continuous decline in ETH prices.
He stated:
'ETH was buried by the tokens it created, it died by its own hand.'