The classic L2 vs Ethereum alignment drama is back, and this time Base is right in the middle of it. Layer 2s were sold as a way to scale Ethereum while still supporting it. Users pay fees in ETH. Those fees are supposed to strengthen the main network, create demand for ETH, and keep the whole ecosystem aligned. Base is doing the opposite right now. It generates massive fees in ETH from all the activity on its chain. But instead of holding that ETH or putting it back into the Ethereum ecosystem, those fees are being sold and the money is going into Bitcoin. Meanwhile Base’s parent company keeps its ETH holdings basically flat while stacking more BTC. Base uses Ethereum for security and settlement, takes the value created by ETH users, and converts it into something that doesn’t help Ethereum at all. If a major L2 won’t support $ETH, then the community shouldn’t support that L2 either.

Most people are missing the ETH angle behind Robinhood Chain. At first glance, it may seem like Robinhood launching its own chain has little to do with $ETH. The activity happens on Layer 2, fees are low, and users may never think about Ethereum mainnet. But the deeper point is security. Ethereum L2s do not exist in isolation. They rely on Ethereum mainnet for settlement, data availability, and security. If Ethereum’s security were compromised, assets and applications on its L2 ecosystem could also be affected. According to the Ethereum Foundation’s report, around $76B worth of ETH is staked to secure Ethereum. The report also estimates that it would take about $50.7B worth of ETH to finalize a fraudulent transaction. That is why institutional adoption on Ethereum matters for ETH. Robinhood may be only one of the first major traditional finance platforms to build on Ethereum’s L2 ecosystem. If more banks, brokers, fintechs, and asset managers follow, the amount of value relying on Ethereum security could grow from hundreds of billions to trillions of dollars. At that point, ETH is no longer just a gas token. It becomes the economic collateral securing a global settlement layer. That is the bullish case: as more real-world financial assets move onto Ethereum and its L2s, the market may be forced to reprice ETH based on the value it secures.

Arthur Hayes predicts AI-focused tokens powering autonomous "agentic" economies—where AI agents transact and operate independently—could surpass Ethereum in market cap by 2030, displacing it from the top 3. He’s the Jim Cramer of crypto: bearish in bear markets, bullish in bull markets. No surprise this clown is singing that tune right now. 🤡

Ethereum is where the next big narrative will start: Looking back at the past ICO 2017 (ERC-20 → >90% of ICOs on Ethereum) DeFi Summer 2020 (Compound, Uniswap, Aave, Curve → entire core protocols on Ethereum) NFT 2021 (CryptoPunks + OpenSea on Ethereum) GameFi early stage (Axie using Ronin – Ethereum sidechain) Layer 2 (Arbitrum, Base, Optimism,...→ entire scaling solution for Ethereum) It wouldn't be surprising if a new mega trend also started with Ethereum Focus relentlessly on the Ethereum ecosystem. If you already hold $ETH, keep it tight. If you don’t, start accumulating now. $ETH road to $62,500 Come back here and thank me later.