Attention, my people! 🚨 Can you imagine a party where the host keeps attracting more guests, but the money is being spent at the store next door? 🤷♂️ Well, that's how it is with Ethereum!
Look at this: the number of transactions on Ethereum is through the roof, close to 1.7 million in a single day! 🚀 That's crazy, especially now that the price of ETH is flirting with $5,000. But here comes the trick... 🤫 Even though the main network is full, the business is going elsewhere.
And it turns out that layer 2 networks like Arbitrum and Base are taking over, moving millions of transactions. 🤯 I mean, people are still using the Ethereum ecosystem,
but they prefer to make their moves on these faster and cheaper "highways," thanks to the Dencun upgrade that made fees almost free. It's like the main soccer stadium is full, but everyone is buying refreshments at the kiosks outside.
Moreover, as if that weren't enough, there are other heavyweights like Solana and Sui, who are hitting Ethereum hard. 🥊 These networks, which are like the "new kids" on the block, are attracting users with super fast and low-cost transactions, eating up a good part of the pie.
So, what's the drama here? That, although Ethereum has its loyal audience, it is not capturing the revenue it should. This forces the brains behind the network to think of new strategies and readjust their roadmap. Should they compete directly on speed? The CEO of Polygon Labs says that could be dangerous. 😬 So what? Do they reinvent themselves or lose their throne?
This leaves us with a question in the air: Is Ethereum no longer the only star of the show and now has to share the stage with new talents? 🔥$ETH $POL $SUI
