All L1s outside of $ETH are zeros. Arthur Hayes says private chains are finished. Institutions want public blockchains for real security, and that means Ethereum. Solana survives if it finds a new narrative beyond memecoins. Monad is another high FDV VC trap heading to zero. He agrees with Tom Lee that Ethereum leads the next wave of institutional adoption. His millionaire math: aim for 50 ETH. $BMNR $MON $BERA $SOL