Nick Tomino, founder of Blue Chip Venture Fund, has done well and explains why he sees the successful Ethereum L2 as an excellent catalyst for ether prices. During this cycle, many skeptics expressed the opinion that these blockchains sucked up liquidity from the main chain and should be blamed for their pale performance.
Ethereum L2S is the best for ether: 4 take by veteran investors
The Ethereum-based EVM L2 network is net for Ether, the core cryptocurrency of the second blockchain. Such a statement was shared by Nick Tomaino, founder of 1Conufirmation, along with 67,000 followers on X (formerly Twitter) on May 13th.
Here's why L2 is best for ETH:
-The final state of the Crypto app is an app chain that gives builders self-enhancing. Ethereum recognized this early and now has an S&P 500 company that has millions of US dollars in ETH, with millions of US dollars per month. this is…
– Nick Tomino (@ntmoney) May 13, 2025
To prove this view, he recalled the success story of Coinbase, the leading US exchange and founder of Ethereum-based OP stack blockchain-based US. Experts have expressed their opinion that app-specific chains are the endgame goal for all big crypto apps.
Ethereum (ETH) recognized this early, and now “millions of US dollars of ETH” revenue is generated monthly by the S&P500 Company Coinbase. Coinbase also holds funds in hundreds of millions of US dollars of ether (ETH), Tomaino added.
Ethereum's L2 also solidifies the value of Ethereum as a trusted Internet native store. L2S distributes ether as a method of payment and investment assets.
This improves the ecosystem effectiveness of Ethereum Virtual Machine. It is the foundation of the world's largest programmable blockchain ecosystem.
Flywheel or threat?
Lastly, thanks to EIP 1559, the activity of Ethereum-based blockchains has contributed to the burning of ETK tokens.
This combination of factors is set to expose the false narrative that L2's success is bad for Ethereum and the Ether, Nick Tomino concludes.
Mainly, his followers agreed to a statement emphasizing that Ethereum's L2 adoption will give a spin on the Ethereum (eth) flywheel and will not undermine it without compromising it.
