Recent data indicates a significant decrease in Ethereum activity, with transaction numbers hitting a 5-month low. This decline aligns with a broader market downturn, leading to concerns about Ethereum's short-term outlook. Despite a recent peak in transaction counts, Ethereum is now experiencing a slowdown, with daily transactions dropping to levels not seen since February. The decrease in active wallet addresses has also contributed to this trend. However, layer 2 solutions like Base network are gaining traction, offering faster and cheaper transactions. Ethereum co-founder Vitalik Buterin remains optimistic about the future, believing that layer 2 networks will address interoperability challenges. He envisions a seamless Ethereum ecosystem in the near future, driven by growing interest and collaboration within the community. Read more AI-generated news on: https://app.chaingpt.org/news

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