Vitalik Buterin just sent a shockwave through the Ethereum ecosystem. His message was clear:
Ethereum Layer 1 is scaling, transaction fees are already low, and the original purpose of Layer 2 no longer holds. The main growth narrative of ETH from 2020–2024 has officially ended.
$SHIB $DOGE What does this mean?
Projects like OP, ARB, ZK, STRK, POL, and BLAST have lost their long-term foundation. The logic that justified their existence is fading, and with it, their future value. The old story—ETH mainnet + L2 = infinite scalability—has collapsed. Now, the mainnet alone is deemed sufficient.
This is not an upgrade. It’s the end of a growth cycle.
The leadership problem
Vitalik is a brilliant cryptographer and computer scientist—but not a strong leader. This leadership gap defines Ethereum’s ceiling and shows up at critical market moments.
Look at the exits:
Gavin Wood → DOT
Charles Hoskinson → ADA
Joseph Lubin → MetaMask
Not coincidence—inevitability.
Meanwhile,
$ETH fundamentals haven’t matched its narrative. Real-world applications remain limited. Price rallies came from ETFs and Wall Street positioning, not adoption.
Valuation reality
Based on historical structure and market anchors, $1800 is a reasonable valuation zone for ETH.
The technology may be right—but the market is bleeding.
#Vitalik #OP #ARB #CryptoAnalysis #ETH