Three reasons to be bearish on Ethereum: founders are not interested in development, foundations continue to cash out, and on-chain activity is low

Ethereum was once hailed as the "world computer" of the blockchain industry, but recent developments have called into question its future prospects. From the founder's movements to the foundation's operations to the performance of on-chain data, all of these suggest that Ethereum's future may not be bright.

1. The founder is not interested in development and is keen on his private life

Ethereum founder Vitalik Buterin (V God) is the soul of the project, but he seems to have no interest in the technical development of Ethereum. According to observations, his GitHub code submission records show that he has not made many contributions in recent months, while his personal life is very active. This makes people wonder whether the future of Ethereum can still be led by him.

2. The Ethereum Foundation continues to sell ETH and frequently cashes out

The behavior of the Ethereum Foundation also dampened market confidence. Data shows that the Foundation has sold ETH several times this year to cash out. This behavior shows that the Foundation does not seem to be optimistic about the long-term value of ETH and chooses to cash out at a high market price. Such "clearing" behavior makes people worry whether their trust in the project is gradually weakening.

3. On-chain transactions are not active and gas fees are low

Ethereum's on-chain data also reflects the decline in market activity. As the main public chain for decentralized finance (DeFi) and non-fungible token (NFT) applications, Ethereum has experienced high gas fees at its peak, and users flocked to it. However, the current low gas fees indicate insufficient on-chain transaction volume and weakened user activity, which reflects the decline in market demand for Ethereum.

In summary, Ethereum's prospects are not optimistic due to multiple factors, including the founder's fading enthusiasm, the foundation's cashing out, and the sluggish on-chain transactions. For investors, it is a more prudent strategy to remain vigilant and carefully evaluate the long-term value of Ethereum.

Conclusion

Although Ethereum once held a leading position in the blockchain field, its future development remains to be seen. If these negative factors continue to ferment, Ethereum's position may be challenged by emerging blockchain platforms.