Standard Chartered analyst says Ethereum is in a a “midlife crisis,” The ETH is struggling to maintain around $2,000.
EthereumETHIt’s like a limbo, as the value of the product is being given away for free. layer-2 While struggling to retain investors’ interest. In the last 3 months, market value of the world’s second biggest cryptocurrency has decreased by 40%. Standard Chartered Analysts now say the network is facing “midlife crisis.”
Then, you can get in touch with us. interview Standard Chartered’s Geoff Kendrick, head of research for digital assets at Standard Chartered, told the Financial Times that the network is a growing trend. “gave away value for free” Ethereum’s layer-2 networks have the same capabilities as their Layer-1 counterparts. “essentially commoditized itself.”
Ethereum now struggles to keep its price from dropping any further. As of the time of this article, ETH was trading around $2,054. It had dropped to $1,813 in early March. Adam McCarthy, Kaiko’s Research Analyst says that the drop could be due to Ethereum. “is just not interesting to most people.”
“It’s hard to get too excited about amazing feats of engineering when there [are] so many competing things now in the attention economy.”
Adam McCarthy
Carol Alexander is a professor of finance from the University of Sussex. She noted that Ethereum’s developers struggle with internal conflicts, while the user activity in the network hasn’t increased. She also said that decentralized finance feels more realistic now. “much further away now than a year ago” The Ethereum community is now a decision-making body. “a bit of a shambles.”
Harikrishnan Mulackal – a former Ethereum Foundation engineer – has recently questioned the direction of Ethereum. criticized The network governance is criticized, claiming that it has a faulty structure. “lack of a clear and cohesive vision.”
Mulackal believes that Ethereum will stagnate without a stronger leader, and suggests the network pushes for faster updates. “one hard fork each quarter.” Ethereum could reproduce, said the expert. “exactly the same result” As of the last five years.
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Source: crypto.news
