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Ethereum Is Dying… Again: The Shocking Truth Behind Its ‘Dismal’ Price Action (Spoiler Alert: It’s Not Just You)

News 1 Sam Rogers September 9, 2024

A illustration depicting a sinking ship with 'Ethereum' written on its side in bold letters. The ship is surrounded by several smaller boats and ships labeled as Solana, Sui, Aptos, etc., all moving away from the sinking vessel. In the background, a giant anchor holds down another boat labeled 'Layer-2', while multiple ropes stretch out to other vessels.

The never-ending saga of Ether’s woes continues! It seems like VanEck is trying to tell us that Ethereum’s poor price performance can be attributed to a trifecta of troubles: declining network revenue, ‘deliberate policy choices’ (read: developers are getting tired of the blockchain drama), and value extraction from layer-2 solutions. Yeah, because nothing says ‘value proposition’ like extracting wealth from your own ecosystem. And let’s not forget about those pesky Solana, Sui, and Aptos networks that can process thousands of transactions per second – they’re basically sucking all the speculative demand away from Ethereum like a blockchain-based vampire squid.

Source: cointelegraph

Multiple factors fueling Ether’s ‘dismal’ price action — VanEck
https://cointelegraph.com/news/multiple-factors-fueling-ethereum-s-dismal-price-action-van-eck
Asset manager VanEck outlined multiple factors contributing to Ether’s (ETH) poor price performance in its Crypto Monthly Recap for August 2024. The report divided the issues plaguing Ethereum into three main categories: a general decline in network revenue, “deliberate policy choices,” and value extraction from layer-2 solutions and service providers. According to VanEck, a consumer shift to higher-throughput layer-1 blockchains like Solana (SOL) is partially to blame for the general […]

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About the author

Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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