Something to keep in mind:

The narrative of "layer 2's won't accrue value to ETH" is pushed by those who hold ETH competitor assets.

ETH capturing value from scaling is not good for these competitor assets and long-term sucks the air out of them as their narratives fall apart.

I was surprised to see that Solana has not overtaken Ethereum in DEX volumes on a weekly basis yet. Do we think Solana season lasted for all of Q1/24 and now the degens move on? 

Data from https://defillama.com/dexs/chains.

I think sucking out the air is already happening. It's over.

Independent Ethereum educator, angel investor and advisor. 

Founder of /thedailygwei.

I think sucking out the air is already happening. It's over.

https://warpcast.com/xh3b4sd.eth/0x3b67eff4