Castle Island Ventures Partner: L2 Greed Has Led to Ethereum's Underperformance

According to Foresight News and reported by Cointelegraph, the ETH/BTC exchange rate has reached its lowest level in nearly five years, with some investors even labeling $ETH as a "completely dead" investment. Nic Carter, a partner at Castle Island Ventures, believes that "$ETH has died by its own hand," as excessive greed in Layer 2 has led to declines in Ethereum's transaction activity, user growth, and fees/revenue. While Ethereum can be viewed as a practical network, it is "absolutely not" an investment.

According to Foresight News and reported by Cointelegraph, the ETH/BTC exchange rate has reached its lowest level in nearly five years, with some investors even labeling $ETH as a "completely dead" investment. Nic Carter, a partner at Castle Island Ventures, believes that "$ETH has died by its own hand," as excessive greed in Layer 2 has led to declines in Ethereum's transaction activity, user growth, and fees/revenue. While Ethereum can be viewed as a practical network, it is "absolutely not" an investment.