After the 2.0 upgrade of $ETH , the total TVL of Layer2 ecosystems (such as Arbitrum and Optimism) has exceeded $40 billion, with daily transaction volume surpassing 5 million, accelerating the burning of mainnet Gas fees and driving deflation (annual destruction rate of 0.5%-3%). In addition, account abstraction and quantum computing resistance upgrades enhance its technological moat, attracting institutions like BlackRock to apply for spot ETFs, positioning it as a 'substitute for tech stocks'.