At the Digital Assets Summit (DAS) held by Ethereum co-founder Joe Lubin emphasized that the maturity and security of the main network have given developers more room to play in L1, and even optimistic that various L2 expansion plans will continue to grow in the future, but the market seems to be unsuccessful in this statement. Since the upgrade of Dencun Cancun, Ethereum revenue has dropped significantly, resulting in a decline in the price of ETH. Ethereum ETF has had net outflows for 11 consecutive days, with as much as US$73.6 million in withdrawal. It shows that the market's prospects for Ethereum L2 are worrying. Lubin says the key to the future lies in L2, with new plans such as MegaETH and Linea ready to go Lubin said on DAS that the security and network foundation provided by the Ethereum main network have greatly helped developers focus on building applications. He pointed out that future applications will need to operate through the "high-performance blockchain database", and this is where the L2 expansion solution will come in handy. Lubin also specifically mentioned that Linea, which can be focused on Ethereum's internal development, is also the ether superstar (MegaETH), which is about to be launched. Whether L2 is just a simplified figure, investors question "I suck blood but have no contribution" However, according to L2Beat data statistics, so far, there have been more than 140 different Ethereum expansion solutions, including more than 60 rollups expansion solutions. However, these seemingly blooming L2 ecosystems have made some investors question whether they "suck blood without making any contribution." They believe that although L2 improves user experience and transaction efficiency, it absorbs large transaction volume and revenue from L1, and does not provide enough economic value to the main network, resulting in revenue loss and even dilution. Currently, there are more than 140 L2 expansion solutions. Dencun upgrade makes L2 cheaper, but mainnet revenue plummets by 99% Since Ethereum pushed the Cancun Dencun upgrade in March 2024, L2's transaction fees have been significantly reduced, with an average gas falling by 95% in one go, which is a big boon for users and developers, but it also caused Ethereum mainnet revenue to plummet by 99% in half a year and reached its bottom in September 2024. This drastic change has caused investors to worry about whether Ethereum has entered the L2 recession theory and make the mainnet lose its original value support. (Ethereum Dencun upgrade has been completed, and multiple L2s have been updated one after another) The currency price weakened, ETFs were out of net out for 11 consecutive days, and the market atmosphere turned cold Under the dual pressure of overall market weakness and decline in mainnet revenue, the ETH currency price has been falling since the second half of 2024, and fell to a low of about $1,759 at one point on March 11, 2025. Some analysts predict that there may be further downward revisions in the short term. At the same time, according to data from Farside Investors, Ethereum-related ETFs have experienced net outflows of funds for 11 consecutive days. The worst day was on March 13, 2025, when as much as US$73.6 million of funds were withdrawn from Ethereum ETFs. 20250313 is the day with the largest net outflow of Ethereum ETFs, with $73.6 million withdrawing funds. Investors have turned their funds to low-volatility assets such as cash, treasury bonds or stablecoins, indicating a decline in confidence in risky assets. Is L2 a solution or a risk? Ethereum’s future remains to be seen Although Joe Lubin is confident about the Ethereum ecosystem and L2 vision, the actual market trend shows that the market still has doubts about whether the Ethereum main network will be diluted by L2. With signs of sluggish currency prices, collapse in main network revenue, and continuous withdrawal of funds from ETFs, it is worth continuously observing whether the L2 ecosystem can truly become a boost to Ethereum's next wave of growth in the future, or a short-term boom. (When the world computer MegaETH favored by Vitalik meets the new generation DEX that market makers are eyeing, GTE completes social financing) This article Ethereum L2 Decline? Co-founder Joe Lubin is optimistic about the future ecosystem, but the ETF's withdrawal of 73.6 million magnesium in a single day appeared in ABMedia.