Cyber Capital founder: The Ethereum L2 network is actually stealing Ethereum users and fees
Cyber Capital founder Justin Bons posted on the X platform, saying that Ethereum is in decline, while L2 is "dancing on its grave". Bons pointed out that since the implementation of EIP-4844 (Proto-Danksharding), Ethereum's fee revenue has dropped significantly, unable to keep up with the rate of inflation. At the same time, the L2 network has reached new highs in usage and fee revenue, and lobbied to keep Ethereum's capacity low. Bons believes this constitutes a "parasitic relationship".
He said that the L2 network is actually stealing Ethereum's users and fees, attracting users by pretending to be "the same as Ethereum". Bons predicted that the L2 network will eventually migrate or become a separate L1 network, while Ethereum will gradually decline. He criticized the Ethereum leadership for "selling" itself for the sake of the L2 network, arguing that this exposed systemic problems in governance. Bons warned that if Ethereum were to scale L1 in a breakthrough manner in the future, it could lead to a collapse in the price of tokens and equity for all L2 networks, so the L2 network has an incentive to prevent the expansion of Ethereum.