[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  prtcl h 🐈⬛🪴Ξ [@PrtclH](/creator/twitter/PrtclH) on x 1524 followers Created: 2025-07-21 20:17:55 UTC This is just another nuanced take. You're legit saying ETH is more or less a parking meter and this would also imply from your statements that: X. ETH derives all of its value from direct L1 block space usage. X. L2s divert usage away from Ethereum L1, reducing value. X. UI improvements or gas abstraction = users don’t feel gas = less demand = less value. X. ETH converges to just the lowest gas price necessary to clear L2 submissions. When in reality........ ETH is used as collateral for security (staking + restaking) - it is a yield asset (liquid staking, DeFi) AND it is a deflationary asset (thanks to EIP-1559 burns) The native settlement token for L2 rollups and other chains (yes, even Base posts data to ETH!!!) I would agree at least A LITTLE bit that block space demand helps/contributes to some of the things you are talking about but its not the only performance indicator X. L2s strengthen Ethereum. X. Gas Abstraction = Better UX and not lower demand Just because users don’t see gas doesn’t mean it vanishes. under the hood, protocols still pay gas, they just subsidize or abstract it. The demand for execution is still there, it's just hidden from the user, not from Ethereum. X. Even if gas prices stabilize at low levels, the total ETH burned + staked matters and when millions of L2 users are active, the aggregate burn can still drive scarcity. And demand for ETH as money/collateral keeps rising regardless of block congestion. XXX engagements  **Related Topics** [legit](/topic/legit) [ethereum](/topic/ethereum) [coins layer 1](/topic/coins-layer-1) [Post Link](https://x.com/PrtclH/status/1947390605379965435)
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prtcl h 🐈⬛🪴Ξ @PrtclH on x 1524 followers
Created: 2025-07-21 20:17:55 UTC
This is just another nuanced take. You're legit saying ETH is more or less a parking meter and this would also imply from your statements that:
X. ETH derives all of its value from direct L1 block space usage. X. L2s divert usage away from Ethereum L1, reducing value. X. UI improvements or gas abstraction = users don’t feel gas = less demand = less value.
X. ETH converges to just the lowest gas price necessary to clear L2 submissions.
When in reality........ ETH is used as collateral for security (staking + restaking) - it is a yield asset (liquid staking, DeFi) AND it is a deflationary asset (thanks to EIP-1559 burns) The native settlement token for L2 rollups and other chains (yes, even Base posts data to ETH!!!)
I would agree at least A LITTLE bit that block space demand helps/contributes to some of the things you are talking about but its not the only performance indicator
X. L2s strengthen Ethereum. X. Gas Abstraction = Better UX and not lower demand Just because users don’t see gas doesn’t mean it vanishes. under the hood, protocols still pay gas, they just subsidize or abstract it. The demand for execution is still there, it's just hidden from the user, not from Ethereum.
X. Even if gas prices stabilize at low levels, the total ETH burned + staked matters and when millions of L2 users are active, the aggregate burn can still drive scarcity. And demand for ETH as money/collateral keeps rising regardless of block congestion.
XXX engagements
Related Topics legit ethereum coins layer 1