Ethereum loses investment appeal… eroding Layer 2 blockchain market

An analysis has emerged that Ethereum (ETH) has lost its investment appeal due to the competition from Layer 2 blockchains such as Solana (SOL).
On the 29th (local time), Castleisland Ventures Partner Nick Carter said,
"Ethereum has lost its appeal as an investment asset," he said. "The fundamental reason for Ethereum's slump is the erosion of the Layer 2 blockchain market and excessive tokenization.
"The community stood by and watched the issuance of the tokens," he said, claiming that "Ethereum has collapsed on its own." On the 31st, Ethereum fell 1.49% from the previous day on CoinMarketCap.
It is trading at $1,788.