Bell Curve The Bull & Bear Cases For Ethereum | Roundup
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Apr 3, 2026 Panelists debate whether tokenized real-world assets will cement one chain’s dominance and vault economics. They explore agent-driven payments and the promise of AI-enabled crypto activity. Leadership, Foundation priorities, and builder support get scrutinized. Competition from Solana and corporate chains, plus fee-generation challenges that could weaken ETH’s base-asset role, are highlighted.
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Infra Consolidation Is Underway After Years Of Funding
- The ecosystem is more mature and consolidating; many infra startups face PMF struggles and potential M&A or shutdowns.
- Mike observed founders who've raised but not found PMF will likely either be acquired or close in the next year.
ECC Felt Like An Institutional RWA Summit
- Conference vibe shifted from flashy infra to mature capital conversations, with ECC dominated by RWA and vault topics.
- Xavier and Mike observed fewer young builders, more institutional players, and side-events focused on vaults and RWA product-market fit.
Institutions Default To Ethereum For New DeFi Products
- Ethereum's credibility, security, and network stickiness still attract institutions as their first deployment choice for new DeFi products.
- Myles and Mike highlight that institutions prefer ETH to avoid compounding risks by also choosing a new chain.