@marlokha
Growth in Layer 2 active users can directly impact Ethereum’s long-term valuation. As L2 networks scale Ethereum by lowering fees and improving throughput, more users and developers enter the ecosystem, increasing demand for ETH as gas collateral. Higher transaction volumes on L2s still rely on Ethereum for security and settlement, which ties usage back to ETH. Additionally, greater L2 adoption may lead to increased staking demand, reducing circulating supply. However, the effect on valuation depends on whether L2 growth translates into sustainable fee revenue and ecosystem stickiness. If adoption continues rising, it strengthens ETH’s role as the settlement layer, positively supporting its long-term value proposition.