<ul><li>Layer-2s draining value from the Ethereum (ETH) network and excessive token creation are contributing to ETH's declining appeal as an investment, according to venture capitalist Nic Carter.</li><li>The ETH/BTC ratio is at its lowest level in nearly five years, and the price of Ether has declined 17.94% over the past 30 days.</li><li>Fee revenue for Ethereum has diminished significantly as layer-2 networks absorb users, transactions, and fee revenue without contributing to the base layer.</li><li>While some predict a bearish outlook for ETH, including a reduced price estimate, others remain optimistic about its potential in the market.</li></ul>

Greedy L2s are the reason ETH is a ‘completely dead’ investment: VC

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