The L2 Capital Paradox: Why Ethereum’s Infrastructure Boom Is Eating Its Own Future
Hook Last quarter, Arbitrum’s protocol revenue dropped 38%—while its token...
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Fear
Market Sentiment
Block reward halving event
Team and early investor shares released
Raises validator limit and account abstraction
Circulating supply increases by about 2%
Block reward reduced to 3.125 BTC
Independent validator client goes live on mainnet
92 million ARB released
Improves data availability sampling efficiency
Bitcoin Season
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Hook Last quarter, Arbitrum’s protocol revenue dropped 38%—while its token...