Analysis: Reasons Behind Ethereum's Current Price

The article focuses on the Layer 2 strategy and Blob space utilization after the Cancun upgrade. Although Ethereum has reduced fees after the upgrade, the Blob space utilization rate of Layer 2 projects is only 80%, and DA costs account for only 0.3% of their revenue. The unsaturated Blob space and insufficient growth of Layer 2 users have led to the market demand for the Ethereum mainnet not being as strong as expected.

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