According to ChainCatcher, the latest market analysis shows that Ethereum is facing multiple development difficulties. Industry insiders pointed out that there are at least three unfavorable factors affecting its development prospects.
First, Ethereum founder Vitalik’s code contributions on GitHub have decreased significantly recently, which has aroused market concerns about the project’s technological development.
Secondly, the Ethereum Foundation has sold off large amounts of ETH several times this year to cash out, 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. Investors are advised to remain cautious under the current situation and pay close attention to the subsequent development of the project.
