**Ethereum Faces Challenges Amid Decline in DApp Activity**

Ethereum (ETH) has been struggling to break past the $2,450 mark for over two weeks, with traders now questioning the stability of the $2,250 support level. A recent 17% drop in decentralized application (DApp) activity has raised concerns, particularly for the layer-2 ecosystem.

Despite these challenges, Ethereum remains the leading platform in terms of activity and development. However, rising transaction fees and lower staking yields—3.3% compared to 4.6% for US Treasury bills—are impacting its attractiveness. Only 28.5% of ETH is currently staked, lagging behind competitors like Solana and Cardano.

Ethereum’s total value locked (TVL) remains strong at $44.15 billion, but the decline in DApp volumes contrasts with gains seen in other blockchains like Solana and BNB Chain. Notably, leading decentralized exchanges on Ethereum, such as Uniswap, saw significant drops in volume.

Layer-2 solutions also experienced reduced activity, although the overall TVL for these platforms remained stable. A concerning trend is the increase in Ether deposits on exchanges, suggesting potential short-term selling pressure.

While the decline in DApp volumes is notable, it alone is unlikely to push Ether's price below $2,250. Investors should keep an eye on network activity, but for now, there seems to be no immediate risk.