Ethereum post-Pectra - $ETH

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.

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.”