Vitalik, MetaMask & $70B DEX Surge

Key Insights:

• Vitalik urges L2s to shift focus as Ethereum mainnet handles higher speed and lower fees.
• ENS scraps Namechain L2, confirms ENSv2 will run fully on Ethereum’s secure main network.
• MetaMask now supports tokenized stocks and ETFs; Perp DEX trading surges past $70 billion.

Vitalik Buterin says Ethereum’s main network can now scale well on its own. With faster speeds and lower fees, he believes the old plan of relying on Layer 2 networks for most scaling may no longer be needed. He pointed out that gas limits will likely rise in 2026, which could further reduce the load on L2s.

He shared that L2s should move toward offering new features instead of just focusing on scaling. He named areas like privacy, custom virtual machines, ultra-fast transactions, and built-in data tools. He also called for Ethereum to add tools that let L2s verify their own systems on-chain. “Users should know exactly what level of security they’re getting,” he said.

ENS Cancels Its Own L2, Returns Fully to Ethereum Mainnet

Ethereum Name Service announced it will not move forward with its in-house L2, called Namechain. Instead, all new development will stay on Ethereum’s mainnet. The team explained that the need for a custom L2 has dropped as Ethereum L1 has become faster and cheaper to use.

The next version, ENSv2, is moving forward. Its contracts, app, and tools are already in public testing. According to the team, keeping ENS on the mainnet means they can rely on Ethereum’s built-in security. They also said that what they learned while building Namechain will help them connect with other networks in the future.

MetaMask Adds Real-World Assets Through Ondo

MetaMask has partnered with Ondo Finance to bring tokenized U.S. stocks, ETFs, and commodities into its wallet. This gives users access to traditional financial products inside a crypto wallet. The assets are available through Ondo Global Markets.

The new feature works inside the existing MetaMask app. Users can now hold both crypto and tokenized real-world assets in one place. This marks a step toward blending traditional and blockchain-based finance.

Perp DEX Volume Passes $70B in One Day

On February 5, perpetual decentralized exchanges saw $70 billion in total trades. This was their second-highest day ever. The only higher day was during the October 2025 flash crash.

The top trading platforms were Hyperliquid with $24.7 billion, Aster at $10 billion, edgeX with $8.7 billion, and Lighter at $7.5 billion. These high numbers show the continued rise of decentralized trading and how active the market has become.

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