Ethereum’s era of crypto dominance is over — LONGITUDE panel

Quick Summary:

Ethereum’s relative dominance among layer-1 (L1) blockchain networks has declined, resulting in an “open race” to become the leading Web3 platform, according to Alex Svanevik, CEO of data service Nansen.“If you’d asked me 3–4 years ago whether Ethereum would dominate crypto, I’d have said yes,” Svanevik said during a panel discussion at the LONGITUDE by Cointelegraph event.“But now, it’s clear that’s not what’s happening.”Ethereum is still the most popular L1 network.

Source: Cointelegraph“It’s an open race between multiple L1s for becoming the go-to platform for trading and broader blockchain use,” Svanevik said.“We’re seeing smaller chains grow extremely fast, and a group of five or six chains emerging as leaders.

However, Ethereum’s dominance has diminished sharply since 2021, when the L1 controlled as much as 96% of aggregate TVL, the data shows. Panelists at the LONGITUDE by Cointelegraph event in Dubai.

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Article Details

Author / Journalist: Cointelegraph by Alex O’Donnell

Category: Crypto

Markets: United States

Topics: Layer-1 Platform Become Ethereum Blockchain Nansen Data Cointelegraph Svanevik According Networks

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-02 @ 21:39:57 (23 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 366 words

Reading Time: 3 minutes read

Sentences: 13 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28324996

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