The rise and fall of ETH Killers.
The promise of faster, cheaper transactions flooded capital into alt layer-1 blockchains, creating one of the most popular narratives in the last bull run. While Ethereum devs were actively building, the Merge was still mostly an abstract idea to most investors. The Merge went live on Sept. 15, and the economic ossification of Ethereum quickly became evident. From that point on, there was a clear separation into two tiers: BTC, ETH and ATOM vs everything else.
The promise of faster, cheaper transactions flooded capital into alt layer-1 blockchains, creating one of the most popular narratives in the last bull run. While Ethereum devs were actively building, the Merge was still mostly an abstract idea to most investors. The Merge went live on Sept. 15, and the economic ossification of Ethereum quickly became evident. From that point on, there was a clear separation into two tiers: BTC, ETH and ATOM vs everything else.