Ethereum

Total value on all rollups is stuck at about $35b
= half the value of USDT on Tron
= 1/10th of the value of ETH on L1
= 1/30th the value of BTC
Why?

Real World Ethereum 🌎 
building /daimo ✳️ 

larger crypto market has been stagnant since that time frame- eth/btc/sol tvl all show similar behavior before and after March

guess is there's not yet something compelling enough to drive existing people to move to L2s (eth + sol gas is really cheap rn) or get new people in (no "killer app")

potential datapoint is Polymarket's explosive growth on Polygon, but interesting that didn't move the TVL needle as Polygon is losing TVL in every other area