Analysis by crypto market research firm 10X Research indicates that Ethereum's volatility, once a highly valued attribute, is now diminishing its investment appeal over the medium term. The report suggests that even by 2025, Ethereum may struggle to experience a significant uptrend in comparison to Bitcoin. Other key findings from the analysis include: Ethereum's weekly trading volume has been on a gradual decline since peaking at 11 million in May 2021. The number of weekly active addresses has remained stagnant within a range of 300,000 to 400,000. The growth rate of active validators has turned negative, and there is a risk of validators leaving the network. Ethereum lacks substantial demand beyond staking, and its yield is approximately 2% lower than that of US government bonds. This low yield could further accelerate the departure of validators. 10X Research emphasizes that the trend in the number of active validators will be a crucial indicator in determining Ethereum's direction in the coming year.