The Milk Road Show

Is Base Stealing Ethereum’s Future? w/ Michael Nadeau

13 snips
May 2, 2025
In this discussion, Michael Nadeau, an insightful investor and the founder of the DeFi Report, delves into Ethereum's ongoing struggles against its competitors like Base and Solana. He examines how Layer 2 solutions are reshaping market engagement and the financial viability of Ethereum. Concerns about scalability and community involvement underscore a pivotal moment for Ethereum. Nadeau also analyzes Bitcoin's evolving role as a reserve asset, offering market insights that reflect broader economic trends in the crypto landscape.
Ask episode
AI Snips
Chapters
Transcript
Episode notes
INSIGHT

Base Steals Ethereum's GDP

  • Base is the fastest growing Layer 2 on Ethereum, generating significant fees and user adoption quickly.
  • However, most economic activity and fees benefit Base itself, not Ethereum's Layer 1 validators or ETH holders.
INSIGHT

Ethereum's Scaling Challenge

  • Scaling Ethereum's blobs can increase throughput but raises transaction costs on L2s, potentially driving users away.
  • Ethereum must drastically increase blobs per block to keep L2 costs low, risking diminished ETH value accrual from fees.
INSIGHT

Solana Outperforms Ethereum Economically

  • Solana shows significantly higher real value accrual to token holders than Ethereum in 2025.
  • This suggests current market prices misprice Ethereum relative to Solana, implying potential Ethereum underperformance.
Get the Snipd Podcast app to discover more snips from this episode
Get the app