Ethereum daily fees hover between $1 million to $5 million — far less than the $30 million that was consistently reached throughout 2021 and 2022.
Fears that Ethereum layer 2 scaling solutions are eating into the mainnet’s revenue and could impact price may be a bit premature, says an industry analyst.
“It is much too early to tell whether Ethereum[‘s] strategy of scaling through layer 2s is cannibalistic or will lead to net growth,” Katalin Tischhauser, Head of Research at crypto bank Sygnum Bank told Cointelegraph in a recent interview.
Tischhauser’s use of “cannibalistic” refers to layer 2s taking “business” away from the Ethereum mainnet — which has contributed to a substantial fall in Ethereum fees over the last few years.
