Ethereum

My thoughts on Ethereum’s current narrative, the risks of memecoins, and why we must ensure it remains the home of innovation—not speculation.

Let's remind ourselves and others what Ethereum truly stands for.

A network without activity isn’t interesting for anyone, neither is it necessary to go back to full-out memecoining on Ethereum.

It’s a fine line to walk. If you want cutting-edge apps, can’t shut out speculation, current main activity. 

In fact, meme activity on Solana should be a wake up call why it isn’t on one of the l2s or hasn’t shifted more yet and we’re seeing first indicators that new apps are also deployed on Solana too.

I think ETH is still by far better positioned but really needs to put focus on this innovation, experimentation and also generating some activity.

Active onchain enduser layer, active capital (ICO with Erc-20s, apps) has been the main differentiator of ETH vs other chains and led to great infra-app layer exchange, improvements all over the stack. This is one I’d rather double down on than neglect.

Random memecoin casino gambling is a killer early crypto use case to bootstrap an ecosystem. At some point you need to turn that into an economy growth driver and not a vessel that leaks value to some extractors.

&gt; Ethereum needs to continue to attract top builders, top projects

JR ↑

Too little general activity and some builders will pick alternatives.

Too much BS activity and there’s no place for long-minded business that brings network effects.

Don’t lose out on the tokenization - which isn’t coming in the form of regulated tokens onchain in most cases

A network without activity isn’t interesting for anyone, neither is it necessary to go back to full-out memecoining on Ethereum.

It’s a fine line to walk. If you want cutting-edge apps, can’t shut out speculation, current main activity. 

In fact, meme activity on Solana should be a wake up call why it isn’t on one of the l2s or hasn’t shifted more yet and we’re seeing first indicators that new apps are also deployed on Solana too.

I think ETH is still by far better positioned but really needs to put focus on this innovation, experimentation and also generating some activity.

Active onchain enduser layer, active capital (ICO with Erc-20s, apps) has been the main differentiator of ETH vs other chains and led to great infra-app layer exchange, improvements all over the stack. This is one I’d rather double down on than neglect.

https://x.com/jrmr92/status/1880628538166161683

https://x.com/jrmr92/status/1880629072885363056