Tom Lee Claims Ethereum Mainnet Remains Settlement Hub
Tom Lee, Chairman of Bitmine, stated that he disagrees with the notion that "Ethereum is being eroded by Layer 2" and believes that the Ethereum mainnet is solidifying its position as a major economic settlement hub.
He pointed out that while Layer 2 has attracted tens of millions of real-world users into the on-chain ecosystem, Fast Confirmation can reduce transfer friction by about 98%, and Ethereum is still expected to become the most widely used settlement layer for finance and AI agents.
Buyers are users and applications looking to minimize on-chain transaction costs, while sellers hold the final settlement and asset pricing power on the mainnet; this means Layer 2 acts more like a traffic entry point, while the mainnet serves as a clearing base.
Source: Public Information
ABAB AI Insight
Statements like those from Tom Lee essentially redefine Ethereum as "on-chain currency" and the ultimate settlement layer, rather than merely a smart contract platform. This narrative shifts the focus from TPS competition to who controls final settlement and asset pricing.
Historically, the division of labor between base layers and scaling layers is often misinterpreted as a "substitution relationship," but more commonly it is a "layered absorption." Just as payment networks have front-end wallets, clearing networks, and banking settlement layers, Layer 2 attracting users does not necessarily weaken the mainnet; rather, it may enhance the settlement value of the mainnet.