@haqlle

As L2 adoption rises, Ethereum’s gas dynamics are shifting. Rollups now handle the bulk of transactions, paying settlement fees to mainnet. In 2025, a subtle competition emerges: can L1 continue extracting value while L2s undercut costs? If users fully migrate, L1 revenues may compress. However, Ethereum’s role as final settlement ensures persistent demand. The real question is whether other L1s can compete with Ethereum’s combined L1-L2 ecosystem. Ultimately, the gas market may evolve into a layered model, where Ethereum captures base settlement value while L2s dominate retail transactions.