Binance Research Report Highlights Ethereum’s Value Dilemma Amid L2 Growth and Competition

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TheNewsCrypto 21h ago

Binance Research Report Highlights Ethereum’s Value Dilemma Amid L2 Growth and Competition - TheNewsCrypto

Quick Summary:

The slow progress that Ethereum has made across key metrics compared to the larger market, including ETH dominance nearing its 2021 lows, has put it at the focus of a value discussion as mentioned in the latest Binance Research report titled ‘The ETH Value Debate’.

This was beneficial for L2 users, but it also reshaped the dynamics of Layer 1 (“L1”) fees.

Some people are focused on competing in the decentralized application (DA) area, but arguably the greater bet is viewed with the demand for ETH as non-sovereign money inside the L2 economy.