Greedy L2s are the reason ETH is a 'completely dead' investment: VC

Ether's (ETH) declining appeal as an investment comes from layer-2’s draining value from the main network and a lack of community pushback on excessive token creation, a crypto venture capitalist says. “The #1 cause of this is greedy Eth L2s siphoning value from the L1 and the social consensus that excess token creation was A-OK,” Castle Island Ventures partner Nic Carter said in a March 28 X post. Ether “died by its own hand”“ETH was buried in an avalanche of its own tokens. Died by its own hand,” Carter said source: https://cointelegraph.com/news/layer-2-reason-for-ethereum-declining-investment-appeal-crypto-venture-capitalist?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound