Ryan Sean Adams
👤 SpeakerAppearances Over Time
Podcast Appearances
Now, I will say that everybody within base, if you ask them, including Jesse, will be like, no, we're 100% Ethereum.
We're continuing to do this layer two.
So a lot of this is speculation.
I don't know.
I mean, you could see it happening, I suppose.
Actually, brutal.
So the highs that we hit in March 2024 for OP, Optimism, 4.5 billion, okay?
FDV.
Now it's 600 million FTV.
This is also taking a toll on other layer twos as well, right?
Arbitrum, for instance, trading at 600... 1 billion.
No, 1 billion.
Okay, 1 billion FTV.
And so you have to wonder, how does this affect...
Layer 2s and their valuation, will they need to start generating fees on their own?
It's actually notable.
I know not technically kind of a Layer 2 in the L2B sense of things, but Polygon is an EVM, kind of a sidechain-based approach.
And just this week, they started generating more fees than Ethereum.
Okay, including actually the cost to use Polygon was higher on a per transaction basis than Ethereum.
It is.