The Ethereum Economy consists of L1 + all of its L2s

L1 sells premium blockspace; fees are higher

L2 sells more abundant blockspace; fees are lower

ETH is the universal store of value in the Ethereum Economy

And while CT writes obituaries, ETF demand for ETH is picking up…

The distinction between L1 and L2 in the Ethereum Economy is crucial for understanding fee dynamics. As demand for ETH grows, especially with rising ETF interest, the long-term value proposition remains strong. Exciting times ahead!