Ethereum

People complaining about Ethereum fee revenue being down are missing the forest for the trees.

If Ethereum didn't scale - if blobs weren't introduced - then lots of activity that was on Ethereum would've moved to other layer 1's instead of layer 2's. This would've been a *much* worse outcome for Ethereum than losing fee revenue.

Yes, there is currently an imbalance between how much money rollups sequencers make and how much revenue Ethereum L1 collects from rollups, but this is imo a temporary phenomenon.

Ethereum is in its hyper-scaling phase and now has excess blockspace with not enough demand to fill it (yet).

If you believe in the decentralised future enabled by Ethereum like I do, then you believe that Ethereum is going to grow 1000x and more from here - this is what the focus should be on; not on how much rent Ethereum can extract from the small existing pool of users.

We’ve reassessed yearly whether ethereum is the right L1 for real estate onchain. And yearly we’ve come to the conclusion that it continues to be. It is still currently the best chain for onboarding the world’s most valuable assets, and this short term pain unlocks the potential for hyperscale needed to do so