#Ethereum

(ETH), the second-largest cryptocurrency by market capitalization, heads into a trying period with its decentralized application activities going down notably.

Despite these setbacks, Ethereum remains the market leader in terms of activity and development. But competition is edging closer-in the same period, Solana saw a 24% increase in DApp volumes, while BNB Chain saw a 23% increase.

The current average transaction cost on Ethereum stands at $1.70, down from its previous highs but still not as low as other layer-1s. Scalability solutions have helped partially, but at the cost of extra complexity for users and added questions about the long-term sustainability of the network's security.

The 3.3% staking yield for Ethereum is lagging against traditional instruments like bonds, with the 6-month US Treasury bill offering 4.6%. Currently, only 28.5% of ETH in circulation are at stake, significantly below the level of its competitors like Solana, which has 65.8%.

ETH is currently trading at $2,390, gaining 2.9% after the FOMC meeting saw the Fed cut rates by 50 basis points. However, the ETH/BTC ratio recently hit a new low, suggesting that Ethereum is still underperforming Bitcoin.