Nikk0byte

senior blockchain researcher with L1 & L2 at Venture fund
Prev: Fullgoal Fund Management 富国資産管理（香港）有限公司
Master’s degree in Computer Science from ETH Zurich 🇨🇭

[Nikk0byte @nikk0byte]

Why is Vitali @VitalikButerin so greedy?

It's strange, isn't it — why hasn't ETH fully transitioned to L2, and why does the EVM network still lead in fee revenue? No other system generates as much revenue from fees as Vitalik Buterin's (the creator) does.

After the Dencun upgrade (March 13, 2024) with the activation of EIP-4844 ("blobs"), L2 fees dropped sharply — some networks saw reductions of up to 99%. This made L2s much more attractive to users — but at the same time, it significantly reduced the revenue generated from publishing (settling) data back to L1, which used to be expensive. As a result, L1 started earning much less.

For example, by August–September 2024, Ethereum’s daily revenue had dropped to around $566K–578K, compared to $35.5 million in March.

L2 solutions still pay L1 monthly for data publishing (proofs). In May 2023, for instance, L2 networks paid around 9,000 ETH (~$16.2 million) for data posting — a significant L2 → L1 payment. However, after Dencun, this amount has decreased.

Overall, Ethereum L1 revenue has dropped by 95% — from $4.3 billion in Q4 2021 to approximately $217 million in Q1 2025

[Nikk0byte @nikk0byte]

@LianaXBT @theformsfund save it

[Liana Chacee 🦊 @chace2222]

This comes up a lot in conversations we have at Forms Ventures, and it’s a topic that keeps resurfacing in threads we discuss via @theformsfund .

Staking used to be one of the cleanest ways to earn in crypto. I remember staking around $50K in $ADA and pulling in close to $8K

[Nikk0byte @nikk0byte]

@BrianDobberS @theformsfund alright that's cool script for our community lol

[Nikk0byte @nikk0byte]

@MinJiForms @theformsfund 谢谢分享

[Nikk0byte @nikk0byte]

@kai2009pp @theformsfund okay bro, will check the results of this analys

[Nikk0byte @nikk0byte]

@LianaXBT @theformsfund Liana....

[Liana Chacee 🦊 @chace2222]

One thing we’ve noticed repeatedly at Forms Ventures, and something that comes up a lot in conversations via @theformsfund , is how many people interviewing for VC roles can’t clearly explain how money actually flows through a fund

[Cristiano Ronaldo @Cristiano]

⏳

[CZ 🔶 BNB @cz_binance]

My birthday today! 🤣

[Watcher.Guru @WatcherGuru]

JUST IN: 🇺🇸 $1.75 trillion added to the US stock market today.

[Watcher.Guru @WatcherGuru]

JUST IN: Bitcoin reclaims $69,000

[Crypto Rover @cryptorover]

🩸CRASH: $600,000,000,000 has been wiped out of the US stock market in just 50 MINUTES.

[Ash Crypto @AshCrypto]

🩸CRASH:

$682,000,000,000 has been wiped out from GOLD and SILVER in just 30 minutes.

[Le Bon 🦊 @Nie_HAM]

Core Scientific -> Shifting Focus to AI BTC Holdings -> Gradually Declining Yesterday: -250 BTC The change is barely noticeable, but it’s happening. Miners aren’t just getting rid of their assets… they’re reallocating them. AI instead of BTC......

The analysis was conducted in collaboration with @basednft and @theformsfund

[Lee Min-Ji @MinJiForms]

从 Forms Venture 的产品与市场融合视角，以及我们在 @theformsfund 持续关注的交易所动向来看，币安这一步走得相当明确。

币安今日下午发布公告，确认平台接下来将上线更多以 USDT 结算的传统资产期货合约。此前���币安已经在 TradFi 板块陆续推出了黄金、白银期货。

这类合约的核心优势在于，用稳定币 $USDT 直接交易和结算，大幅降低了传统外汇与商品期货平台在开户、审核和资金流转上的门槛。

在此基础上，原油、铜、铝等高流动性的热门商品期货，很可能会成为下一批上线标的。

当加密交易所开始系统性承接传统资产的交易需求时，USDT 正在逐步演变为跨市场的结算层，而不仅仅是加密世界里的“中介货币”。

[Nikk0byte @nikk0byte]

@BrianDobberS @theformsfund thanks for sharing. good info

[Brian Dobber @BrianDobberS]

From how we’re framing this setup at Forms Ventures, and what we’re closely watching via @theformsfund , this is a key decision point for Ethereum.

$ETH is testing the ~$3,350 area, which has acted as firm resistance. A clean break and daily close above this level would likely open the path toward the Daily 200MA.

Until that happens, this zone remains resistance by definition. The signal will come from acceptance, not the intraday wicks.

Daily closes here matter more than anything else.

[Elon Musk @elonmusk]

True