Can the Ethereum upgrade boom continue? The ecological dilemma under Layer 2 and competing chains encirclement

Question

【Crypto World】Last December's Dencun upgrade temporarily brought Ethereum into the spotlight—data capacity expanded, transaction fees dropped accordingly, and trading volume increased. It looked great, but the question is: can this wave of enthusiasm continue?Honestly, the market is a bit uncertain. History has shown us that each upgrade is often just a flash in the pan, and real growth doesn't last. Why? Because competition is fierce. Layer 2 networks like Base and Arbitrum are eyeing the market, and Solana is also vying for business nearby. Funds are limited, and they are spread across various application-specific chains, which naturally causes Ethereum's fee revenue to decline.Users move to cheaper options, ecosystems become fragmented, and revenue falls behind—these are the long-term challenges Ethereum truly faces. An upgrade alone can't solve structural problems.

SillyWhale · Accepted Answer

A fleeting moment indeed hits hard... That wave of Dencun was really awesome, but then you look at the gas fees on Base and Arbitrum, really, money is flowing to the cheaper options.

ProtocolRebel · Answer

The phrase "a flash in the pan" is too absolute, but indeed... every upgrade feels like fireworks, and it's gone after the excitement.

There are many people farming on Solana, Base is also aggressively siphoning, and Ethereum doesn't have any new tricks this time.

Lower transaction fees are great, but ecosystem fragmentation is the real headache.

Upgrades only treat the symptoms, not the root cause. If structural issues aren't addressed, no matter how much optimization is done, it's all in vain.

How long can this cycle last? I can't bet on it; anyway, my funds have already been diversified.

NFTregretter · Answer

Is this all for the dencun upgrade? Feels like just another round of hype, with base and arb draining too aggressively. ETH transaction fees are still ridiculously high.

RugPullAlarm · Answer

On-chain data has long explained everything. The hype around Dencun is just hot air. I've been monitoring gas fees and MEV data for a while, and it won't last more than a few weeks. The real issue is that funds are pouring out wildly. Just look at the flow of large addresses on Base, and you'll see. The attractiveness of the ETH ecosystem is waning, and this is an undeniable fact. Upgrades can't fix structural problems.

Degentleman · Answer

That hits home. Dencun indeed felt like a strong start but ended with a disappointing finish... Is that all after the upgrade?

Actually, everyone knows it well—it's just a short-term benefit. In the long run, it still depends on ecosystem attractiveness. Layer 2 offloading is too severe; why are users still getting slaughtered on the mainnet?

Ethereum's situation is indeed a bit passive. Structural issues can't be solved overnight, and transaction fee revenue will continue to bleed.

Can the Ethereum upgrade boom continue? The ecological dilemma under Layer 2 and competing chains encirclement

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