New-Generation Wallets and Blockchain Trends Reshape Cryptocurrency Industry Amid Ethereum Centralization Concerns

The cryptocurrency industry is experiencing significant shifts with the advent of new-generation wallets like Infinex, OneBalance, and Coinbase Wallet. These wallets are bringing economic abstraction into practice, a concept that faced criticism about a decade ago. General-purpose blockchain networks, or public mainnets, are trending towards rollups with minimal sequencer fees, while purpose-driven chains are moving towards sequencer marketplaces. The industry is also grappling with issues such as undifferentiated Layer 2 solutions, which create confusion for builders and users, and capital fragmentation for traders. Additionally, there are concerns about the centralization of mainnet builders and Layer 2 sequencers, raising questions about the future of Ethereum and its valuation. The industry is also debating whether Ethereum will be seen as money and the implications of the velocity problem.