Founder of Cyber Capital: Ethereum is declining, and L2 is actually stealing users and transaction fees from Ethereum

ChainCatcher news, Cyber Capital founder Justin Bons posted on the X platform, stating 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 significantly decreased and cannot keep up with the rate of inflation. Meanwhile, the usage and fee revenue of L2 networks have reached new highs, lobbying to maintain Ethereum's low capacity. Bons believes this constitutes a "parasitic relationship." He stated that L2 networks are effectively stealing users and fee revenue from Ethereum by masquerading as "the same as Ethereum" to attract users.

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, arguing that this exposes systemic issues in governance. Bons warned that if Ethereum were to achieve breakthrough L1 expansion in the future, it could lead to a collapse in the token and equity prices of all L2 networks, thus giving L2 networks an incentive to prevent Ethereum's expansion.