@ingridted
Rapid L2 adoption can both dilute and enhance ETH value capture. On one hand, L2s shift many transactions off-chain, reducing direct fee burn on mainnet. On the other, thriving L2 ecosystems increase overall Ethereum demand (more users, assets, liquidity settling on mainnet), and rollup settlement fees plus data availability payments still feed ETH economic value. If L2 growth drives net user and asset expansion rather than cannibalizing existing activity, aggregate fee revenue and on-chain utility can rise, sustaining ETH’s value capture. The net effect depends on total activity expansion and the prevalence of rollup settlement economics.
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