- A crypto VC downplayed Ethereum’s scaling efforts as zero-sum.
- ETH price hit a 2-month high and could eye $2.7K-$2.8K if risk-on sentiment continues.
The recently implemented Pectra upgrade and other planned Ethereum [ETH] L1 scaling efforts may be zero-sum, according to Kyle Samani, partner at crypto VC Multicoin Capital.
In a Thursday X (formerly Twitter) post, Samani singled out Base as a key beneficiary and competitor to the Ethereum L1.
“Scaling Ethereum L1 won’t fix Ethereum. The problem is that EVM developers are overwhelmingly building on Base. The future of Ethereum is Coinbase.”
Samani downplayed Ethereum’s L1 future prospects, terming it a ‘worst product offering’ than Base.
Ethereum post-Pectra
It’s worth pointing out that Samani’s Multicoin Capital is heavily invested in Solana [SOL]. Which begs the question: Is the criticism unbiased?
According to Electric Capital’s 2024 developer count report, Base accounted for 42% of new code being written within the Ethereum ecosystem.
Base is an Ethereum L2 but is relatively faster than the L1 and ranks third on throughput after Solana and Internet Computer (ICP).
In fact, from a builder interest perspective, a 2024 a16z report ranked Base third after Ethereum and Solana.
Source: a16z
Simply put, Base moat was growing at a remarkable speed, and perhaps partly explained why some felt it was a threat to Ethereum.
But Base founder, Jesse Pollak, discredited the notion and said,
“Base is probably the largest single customer of Ethereum in the world. We get a lot of value, and we return a lot of value. And we are onboarding millions of people (and tens of thousands of developers) on-chain.”
Source: Artemis
Although Ethereum has nearly 20x more TVL (total value locked) compared to Base, the L2 has outpaced it in address activity.
Besides, Base has closed the gap on the fee, revenue, and DEX volume fronts, Artemis data showed.
That said, on the price chart, ETH blasted 38% in the past 48% and nearly tapped $2.5K for the first time since March.
It briefly eased to $2.3K at the time of writing. If the risk-on sentiment continues, ETH’s next key targets will be the $2.7K and $2.8K, which doubled as 200DMA (Daily Moving Average) and bearish order block (cyan).
Source: ETH/USDT, TradingView
- A crypto VC downplayed Ethereum’s scaling efforts as zero-sum.
- ETH price hit a 2-month high and could eye $2.7K-$2.8K if risk-on sentiment continues.
The recently implemented Pectra upgrade and other planned Ethereum [ETH] L1 scaling efforts may be zero-sum, according to Kyle Samani, partner at crypto VC Multicoin Capital.
In a Thursday X (formerly Twitter) post, Samani singled out Base as a key beneficiary and competitor to the Ethereum L1.
“Scaling Ethereum L1 won’t fix Ethereum. The problem is that EVM developers are overwhelmingly building on Base. The future of Ethereum is Coinbase.”
Samani downplayed Ethereum’s L1 future prospects, terming it a ‘worst product offering’ than Base.
Ethereum post-Pectra
It’s worth pointing out that Samani’s Multicoin Capital is heavily invested in Solana [SOL]. Which begs the question: Is the criticism unbiased?
According to Electric Capital’s 2024 developer count report, Base accounted for 42% of new code being written within the Ethereum ecosystem.
Base is an Ethereum L2 but is relatively faster than the L1 and ranks third on throughput after Solana and Internet Computer (ICP).
In fact, from a builder interest perspective, a 2024 a16z report ranked Base third after Ethereum and Solana.
Source: a16z
Simply put, Base moat was growing at a remarkable speed, and perhaps partly explained why some felt it was a threat to Ethereum.
But Base founder, Jesse Pollak, discredited the notion and said,
“Base is probably the largest single customer of Ethereum in the world. We get a lot of value, and we return a lot of value. And we are onboarding millions of people (and tens of thousands of developers) on-chain.”
Source: Artemis
Although Ethereum has nearly 20x more TVL (total value locked) compared to Base, the L2 has outpaced it in address activity.
Besides, Base has closed the gap on the fee, revenue, and DEX volume fronts, Artemis data showed.
That said, on the price chart, ETH blasted 38% in the past 48% and nearly tapped $2.5K for the first time since March.
It briefly eased to $2.3K at the time of writing. If the risk-on sentiment continues, ETH’s next key targets will be the $2.7K and $2.8K, which doubled as 200DMA (Daily Moving Average) and bearish order block (cyan).
Source: ETH/USDT, TradingView
how to buy clomid no prescription how to get generic clomiphene without prescription how to get generic clomiphene no prescription how can i get generic clomid pill can i get cheap clomiphene tablets can i purchase generic clomiphene prices cost cheap clomiphene without a prescription
Hey there would you mind letting me know which hosting company you’re utilizing? I’ve loaded your blog in 3 completely different internet browsers and I must say this blog loads a lot faster then most. Can you suggest a good internet hosting provider at a fair price? Many thanks, I appreciate it!
Thanks recompense sharing. It’s first quality.
Thanks an eye to sharing. It’s outstrip quality.
buy azithromycin pills – buy tindamax 500mg for sale metronidazole 400mg pills
buy semaglutide no prescription – buy generic periactin 4mg order cyproheptadine generic
It’s the best time to make a few plans for the future and it’s time to be happy. I have read this publish and if I may I desire to counsel you some interesting things or advice. Maybe you could write next articles regarding this article. I wish to read even more things approximately it!
order domperidone generic – buy tetracycline generic buy cyclobenzaprine pills for sale
buy amoxicillin online cheap – valsartan 160mg over the counter buy generic ipratropium 100 mcg
Este site é realmente fascinate. Sempre que consigo acessar eu encontro coisas diferentes Você também vai querer acessar o nosso site e descobrir mais detalhes! Conteúdo exclusivo. Venha descobrir mais agora! 🙂
Este site é realmente fabuloso. Sempre que acesso eu encontro coisas incríveis Você também pode acessar o nosso site e saber mais detalhes! Conteúdo exclusivo. Venha saber mais agora! 🙂
augmentin 375mg over the counter – atbioinfo buy cheap generic ampicillin
medex price – blood thinner buy losartan 50mg pill
I’ll immediately clutch your rss feed as I can not to find your email subscription hyperlink or newsletter service. Do you have any? Please permit me recognise in order that I may subscribe. Thanks.
buy meloxicam generic – mobo sin purchase mobic online
purchase prednisone without prescription – aprep lson order deltasone 20mg generic
buy amoxicillin pills – combamoxi buy cheap generic amoxicillin
fluconazole online buy – on this site buy fluconazole online cheap
buy cheap generic cenforce – https://cenforcers.com/ buy cenforce 50mg pill