#ETH ：
Fees are lower, so why are token holders conflicted? 😘
Ethereum has a rather awkward problem: users want transfers to be as cheap as possible, while token holders hope the network collects more in fees. It’s not that anyone misunderstands the technology; it’s that a better user experience and a higher token value don’t necessarily improve in step.
Ethereum was originally designed as a programmable blockchain, where lending, trading, and asset issuance could be handled by smart contracts—not just transfers. ETH is used to pay network fees, help secure the network through staking, and serve as collateral in some applications. The project provides computing and settlement capabilities; issuing a token is not the whole purpose of the product.
Scaling routes more transactions through layer 2 networks, which then submit data or proofs to the mainnet. It’s like several people sharing a carpool and splitting the toll: the cost per trip can come down. But layer 2 networks also have their own operational and security assumptions. Just because they ultimately connect to Ethereum doesn’t mean every product should be treated as having the same level of risk.
So here’s the question: if the car is full, will the mainnet necessarily make more money? Not necessarily. Lower fees per transaction need to be offset by more genuine demand, and the fees collected by applications don’t all go to the mainnet—nor are they all used to burn ETH.
As of November 6, DefiLlama’s page showed around 686,300 daily active addresses on Ethereum mainnet and about $43.161 billion in DeFi TVL. Addresses don’t equal people, and TVL is also affected by token prices, but these figures say more about the business fundamentals than follower counts do. The real question is how much paid demand this activity brings to the mainnet.
ETH is currently quoted at around $2,238.49, down 0.02% over 24 hours, with roughly $10.8 billion in trading volume. A single day’s price movement can’t explain whether scaling is succeeding. ETH base fees are burned, but staking rewards also create new issuance, so “some ETH is being burned” doesn’t automatically mean “ETH is consistently deflationary.”
Over the next three to six months, the key question is whether growth in layer 2 activity will drive greater demand for mainnet data, higher fees, and more ETH burns. If usage grows and settlement demand follows, lower costs could bring a larger market. If all the activity stays at the application layer and paid demand on the mainnet doesn’t keep up, technological progress and returns for token holders may continue to diverge.
To evaluate ETH, look not only at how many cars are on the road, but also at how much they pay to use it.
#ETH
Fees are lower, so why are token holders conflicted? 😘
Ethereum has a rather awkward problem: users want transfers to be as cheap as possible, while token holders hope the network collects more in fees. It’s not that anyone misunderstands the technology; it’s that a better user experience and a higher token value don’t necessarily improve in step.
Ethereum was originally designed as a programmable blockchain, where lending, trading, and asset issuance could be handled by smart contracts—not just transfers. ETH is used to pay network fees, help secure the network through staking, and serve as collateral in some applications. The project provides computing and settlement capabilities; issuing a token is not the whole purpose of the product.
Scaling routes more transactions through layer 2 networks, which then submit data or proofs to the mainnet. It’s like several people sharing a carpool and splitting the toll: the cost per trip can come down. But layer 2 networks also have their own operational and security assumptions. Just because they ultimately connect to Ethereum doesn’t mean every product should be treated as having the same level of risk.
So here’s the question: if the car is full, will the mainnet necessarily make more money? Not necessarily. Lower fees per transaction need to be offset by more genuine demand, and the fees collected by applications don’t all go to the mainnet—nor are they all used to burn ETH.
As of November 6, DefiLlama’s page showed around 686,300 daily active addresses on Ethereum mainnet and about $43.161 billion in DeFi TVL. Addresses don’t equal people, and TVL is also affected by token prices, but these figures say more about the business fundamentals than follower counts do. The real question is how much paid demand this activity brings to the mainnet.
ETH is currently quoted at around $2,238.49, down 0.02% over 24 hours, with roughly $10.8 billion in trading volume. A single day’s price movement can’t explain whether scaling is succeeding. ETH base fees are burned, but staking rewards also create new issuance, so “some ETH is being burned” doesn’t automatically mean “ETH is consistently deflationary.”
Over the next three to six months, the key question is whether growth in layer 2 activity will drive greater demand for mainnet data, higher fees, and more ETH burns. If usage grows and settlement demand follows, lower costs could bring a larger market. If all the activity stays at the application layer and paid demand on the mainnet doesn’t keep up, technological progress and returns for token holders may continue to diverge.
To evaluate ETH, look not only at how many cars are on the road, but also at how much they pay to use it.
#ETH