**Ethereum Revenue Drops After Upgrade Amid Major Crypto Changes**
Today’s cryptocurrency news covers some important developments:
1. **Ethereum’s Revenue Decline**: After the recent Dencun upgrade, Ethereum experienced a 99% drop in network revenue. The upgrade made Layer-2 solutions cheaper to use, drawing some activity away from Ethereum's main network. This has raised worries about Ethereum becoming inflationary again, shifting from its earlier deflationary status.
2. **Terraform Labs Moves $62M in Bitcoin**: Amid legal issues facing co-founder Do Kwon, Terraform Labs transferred $62 million worth of Bitcoin. This move comes as Kwon deals with fraud and bankruptcy charges in both the U.S. and South Korea.
3. **Solana Foundation Defends Decentralization**: Solana is pushing back against claims that its network is centralized, arguing that coordinating updates doesn’t mean it’s centrally controlled. The foundation highlights its more than 1,500 independent block producers as evidence of its decentralization.
4. **Matter Labs Cuts Jobs**: Due to a drop in demand for its ZKsync Era protocol, Matter Labs, which focuses on Ethereum Layer-2 scaling, has laid off 16% of its workforce. Active users of ZKsync have significantly decreased since earlier this year.
These stories highlight major changes in the market, especially regarding Ethereum's scalability and ongoing legal issues across the industry.#Write2Earn! #ETH🔥🔥🔥🔥 #Write2Earn! #etherreum #Write2Earn!
