As Ethereum's transaction fee income declines due to the popularity of L2 technology and is overtaken by many public chains, the market raises doubts: "Is ETH losing its value?" In response, DeFi analyst DefiIgnas and user fabdarice offer their perspectives, emphasizing that evaluating L1 blockchain value should not be based solely on transaction fees, but also include key aspects such as decentralization and ecosystem maturity.

Transaction Fees ≠ Value? TRON vs. Ethereum Reveals Key Blind Spots

DefiIgnas pointed out in a tweet that valuing blockchains solely based on transaction fees is extremely narrow-minded.

The market's perception of Ethereum's value is changing, shifting from a simple "digital oil (source of transaction fees)" to a broader role, and thus its value will require more comprehensive assessment.

(Ethereum's "Dunkirk Moment"? IOSGVC Co-founder: Industry Faith Wavering, Short-term Speculation Dominates Market)

Stop Viewing Blockchain Narrowly, L1's Value May Need Reevaluation

This discussion about Ethereum and L1 blockchain value reminds us that price and revenue are just the tip of the iceberg. The analysis by DefiIgnas and fabdarice reveals that true value stems from technology, decentralization, ecosystem expansion, and network effects. In the future, the standards for evaluating L1 value will be more diverse and closer to the critical roles they play in the digital economy.