Regarding some negative views on Ethereum, we can understand them from the following aspects:

1. **Ethereum price performance**: Some people believe that the price of Ethereum does not reflect the value of its project well. Although Ethereum co-founder Vitalik Buterin frequently speaks for Ethereum in public, the price of the coin does not seem to receive corresponding positive feedback, but has fallen instead. This may cause the market's confidence in Ethereum to waver, and some people even speculate that the Ethereum Foundation may be selling ETH to raise funds.

2. **Deflation problem and additional issuance**: The deflation problem currently facing Ethereum has not been effectively solved. Although the rise of Layer 2 helps to improve the scalability of the network, if Ethereum's annual issuance rate of about 0.265% cannot be effectively controlled, it may lead to an increase in inflation. This not only affects the income of miners, but may also have a negative impact on the development of the on-chain ecosystem, and then have an adverse impact on the price of the coin.

3. **Grayscale ETHE selling pressure**: Grayscale Fund holds a large amount of ETH, and its potential selling pressure has put some pressure on the market. Although the market may take some time to digest this selling pressure, this uncertainty may also cause investors' confidence in Ethereum to be damaged.

4. **Problems with on-chain staking projects**: Some people believe that there are problems with projects that are pledged on the Ethereum chain, similar to "vampire" behavior, which mainly refers to the fact that some projects may turn to harvest retail investors after the big investors have harvested. This behavior may harm the healthy development of the entire Ethereum ecosystem.

Despite the above problems, Ethereum still has significant advantages in technology development and ecosystem construction. The expansion prospects of Layer 2, the innovation of decentralized applications, and the strong developer community are all strong supports for the long-term development of Ethereum. In addition, the launch of Ethereum's spot ETF may bring more liquidity and participation of institutional investors to the market, which may have a positive impact on the price of Ethereum. Therefore, although Ethereum may face some challenges in the short term, its development potential is still worth looking forward to in the long run.