According to BlockBeats, on November 7, 4E's latest market analysis showed that Ethereum, once known as the "world computer", is facing multiple development difficulties. Industry experts pointed out that there are at least three unfavorable factors affecting its development prospects.
First of all, Ethereum founder Vitalik’s recent code contributions on GitHub have been significantly reduced, which has triggered market concerns about the project’s technical development. Secondly, the Ethereum Foundation has sold ETH on a large scale several times this year, a move that has been interpreted as a lack of confidence in the long-term value of the project. Third, as the main public chain for DeFi and NFT, Ethereum’s gas fees continue to be sluggish, and the activity of transactions on the chain has dropped significantly, reflecting the weakening of user demand.
Analysts believe that the combination of the above three factors may affect Ethereum's dominance in the blockchain field. Although Ethereum is still the second largest cryptocurrency by market value, the competitive pressure from emerging blockchain platforms is increasing. Investors are advised to remain cautious under the current situation and pay close attention to the subsequent development of the project.
