Vitalik Reframes Ethereum L2 Role as ENS Stays on Mainnet and Perp DEX Volume Hits $70B on February 5

Vitalik Buterin has argued that Ethereum’s Layer 1 now scales well enough that Layer 2 networks should prioritize advanced features over pure throughput, while ENS has canceled its Namechain L2 to keep ENSv2 fully on mainnet. MetaMask has integrated tokenized U.S. stocks, ETFs, and commodities via Ondo Finance, and perpetual DEXs recorded $70 billion in trading volume on February 5, their second-largest day on record. These moves highlight Ethereum’s evolving scalability roadmap and the growing link between decentralized markets and traditional financial assets.