Ethereum

ETH by far has the strongest tailwinds for the 2024 bull market out of any other crypto asset.

- Spot ETH ETFs 🤑
- Deflationary through the burn (EIP-1559) 🔥
- EIP-4844 to reduce rollup fees by roughly 2-5x 📉
- New ETH staking paradigm through 'restaking' with 
@eigenlayer
 🥩

Founder of the Layer 2 Weekly Roundup: https://www.layer2roundup.io/ (prev Scroll)

I understand that the community is working on scaling eth but if ETH price goes up too fast, will it not kill the network: making it too expensive to use?

You're right that if Ethereum Layer 1 remains busy, the gas fees will remain far too high for most people who want to use the network. 

On the scalability front, there are already plenty of already operational L2 protocols that users can interact with today for a fraction of the cost.

Got it, thanks! So no matter what the price of ETH is, the cost of doing transactions on L2 does not change?

Thanks, Liam! If you have any link to some resources I can read to better understand it, let me know. Seems like ETH price has no impact on its utilization cost, which was my concern.

It's not about the price of ETH - it is "demand for blockspace" that drives transaction fees higher. 

Gas costs can fluctuate on L2s as well, but many of these protocols will implement optimizations to continue lowering costs, such as Parallelization and data compression, as well as added support for EIP-4844.