The crypto perpetual futures market has experienced significant growth, but Ethereum's base layer has struggled to keep up with the demand for fast and low-cost transactions. As a result, layer-2 networks like Arbitrum and Base have become increasingly popular for perpetual trading. While Ethereum's security-first architecture makes it an ideal settlement layer, its high gas costs and slower block times have led to the rise of alternative chains like Solana and Hyperliquid.
However, Ethereum's layer-2 ecosystem has become a compromise, offering improved trading performance while preserving the security of the mainnet. Some experts argue that Ethereum's role is evolving to focus on settlement and collateral, rather than execution, and that its layer-2 networks will continue to play a crucial role in supporting the growing demand for perpetual futures.