Is Ethereum really done for? Why the gloom?
1. Team focus is scattered: Ethereum founder Vitalik Buterin has shifted more of his energy to personal life, while the foundation focuses on selling tokens, leading to setbacks in project development and market confidence.
2. Grayscale selling pressure: Grayscale has sold over 1 million Ethereum, increasing the sell-off pressure in the market.
3. Concept bubble: With the rise of a series of Ethereum-related projects like ETHFI, LDO, ENA, BB, although it has brought huge profits, it has also created a massive bubble. Recently, large holders have sold tens of thousands of ETH after staking maturity; this is not an isolated case, reflecting the instability of the market.
4. Loss of market advantage: In the last bull market, Ethereum almost monopolized the market share of ICOs and DeFi, but in this round of competition, public chains like SOL have performed strongly, gradually eating into Ethereum's market space. In the absence of innovation, Ethereum faces survival pressure.
