Fragmented liquidity across L2 networks, a “neutral” stance towards flagship projects, and an ineffective scaling approach are among the key issues plaguing the Ethereum ecosystem, according to Sonic Labs co-founder Andre Cronje.
— L2s ruining UX with fragmented liquidity and seperation
— “L2s” farming ETH with centralized sequencers dumping hundreds of millions of ETH
— USDe with literal billions of dollars of constant short pressure
— Competitor chains offering better ux and ui with better speed and…— Andre Cronje (@AndreCronjeTech) March 8, 2025
The entrepreneur outlined reasons for Ethereum’s “lack of success” compared to competing ecosystems:
- fragmented liquidity and separation of L2 networks;
- farming ETH through centralized sequencers and “dumping hundreds of millions of coins”;
- the stablecoin USDe with “billions of dollars of constant short pressure”;
- competitors’ superiority in terms of interface, user experience, and speed;
- “attempts to maintain neutrality” instead of supporting its top applications;
- Ethereum’s scaling roadmap—”doing nothing while waiting for L2 to fix everything”;
- lack of representation—the ecosystem’s main defenders are podcasters, not engineers.
Cronje noted that he does not know of teams wanting to deploy a product on Ethereum—”almost always it’s Solana, Avalanche, Base, or Sonic.”
“I don’t invest, but if I did, I would choose Solana, Tron, and even XRP over ETH,” stated the Sonic Labs co-founder.
Back in March, the Ethereum Foundation announced changes in its leadership.