@phoebewebster
Layer-2 growth indirectly boosts Ethereum demand. Although transactions move to L2s, security and settlement still rely on Ethereum mainnet. As trading volume on Arbitrum, Optimism, or zkSync grows, demand for ETH increases via gas usage, staking collateral, and liquidity pairing. The Dencun upgrade lowering fees may accelerate this adoption. L2 expansion strengthens Ethereum’s ecosystem value, supporting ETH’s long-term fundamentals, even if short-term fee revenue fluctuates. Thus, L2 volume growth is structurally bullish for ETH.
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