Wilson Withiam, researcher at Messari, stated on Twitter that Q3 2020 solidified Ethereum as the epicenter of crypto finance.
"Its potential to become the dominant settlement layer for crypto is clear, if not a foregone conclusion.
But this activity came at a cost (high fees) that might give other blockchains a glimmer of hope," he said.
High fees should lead some users to explore other options. This would be the time for alternative platforms to flex their low-fees and "superior" scaling tech. However, low-fees aren't defensible. L1s must have a vibrant community and original apps to keep their market share, according to him.