Ethereum Is Making More Money Than Ever From Layer 2 Networks
Weekly Ethereum gas spent by Layer 2 networks: Source: @funnyking/Dune
When Ethereum traffic increases it accrues value to all ETH holders. This is because the base gas fees on Ethereum are burned, reducing the overall ETH supply and thus increasing the value of all remaining tokens. In this way Ethereum “profits” as Layer 2 networks use its blockspace to settle transactions more efficiently than can be done directly on mainnet.
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