In July, October, and November, Solana's trading volume surpassed Ethereum, gradually being caught up by its own Layer 2 chain, Base. In November, Solana's trading volume approached $130 billion, Ethereum reached $70.6 billion, while Base was at $45.76 billion. In the competition for funds in L2, Uniswap accounted for nearly 80% of Ethereum's trading volume. Institutions estimate that validators on Ethereum will lose about $400 million to $500 million annually.
I see him building his grand tower, I see him hosting his guests, I see his tower collapse; this is my concern for ETH.
