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696🎩
@6969
gm noob, just heard of this channel. today is your time to ask questions people! I'll be rewarding with some $degen tips to incentivize you! there's no stupid questions and I'm sure others have the same questions as you do! so ask away!
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Heather ⌐🆇-🆇 🎩
@heather11666
Why is the recent (and accelerating?) increase in ETH bridging to L2 chains a trigger (or reason / factor) for ETH price appreciation? Had this debate on the bird app and am curious about your answer. 🙏
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696🎩
@6969
I don't think L2s give ETH price appreciation yet. L2s pay ETH and also L2 helps scale Ethereum, as you can see with base. I'd guess more attention on ETH, the higher the price would be. Financially wise L2s use the blockspace that they are paying to ETH so that's used up. 500 $degen
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🧑🏼🦰hermes.degen.eth
@hermes
Greater volume of L2 blockchain usage = more users needing ETH = greater L1 value. @sassal.eth covered it in his update here at 23:54 "Ranking Ethereum's value accrual" https://youtu.be/HhGbb8T503M?si=uwYZTbkFogV8PR4J
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