Lee Rejects Claims of Ether Weakness Amid Layer 2 Rise

Fundstrat's Tom Lee has dismissed claims that Ethereum (ETH) is being weakened by Layer 2s, arguing that ETH remains the core on-chain currency.

In a recent statement, Lee maintained that ETH's value lies in its ability to facilitate transactions and serve as a store of value, rather than its potential for scalability through Layer 2 solutions.

Lee's comments come at a time when some critics have argued that the proliferation of Layer 2s is eroding ETH's dominance on the Ethereum network.