《Ethereum's Downturn: The Dilemma of Crypto Giants Under Internal and External Troubles》

Analysis of the Reasons for Ethereum's (ETH) Downturn

1. Core Team and Foundation Issues: V God's deviation from the focus and the improper actions of the foundation have cast a shadow on the development of Ethereum. V God seems to have dispersed his energy to other women-related affairs, while the foundation has focused on selling coins, which has seriously affected investors' confidence and the foundation of Ethereum's development.

2. Grayscale's Selling Impact: A major "bad news" in the market recently is that Grayscale has sold more than 1 million Ethereum. Such a large-scale sell-off, like a financial tsunami, has greatly impacted the price and market stability of Ethereum, and spread panic in the market.

3. Concept Bubble and Big Selling: ETHFI, LDO, ENA, BB and other new and old Ethereum concepts have created huge profits while also breeding huge bubbles. The market movement about half a month ago was even more shocking. After the pledge expired, a large staking user mercilessly sold tens of thousands of ethers. This is by no means an isolated case, but rather indicates that the instability factors within the market are erupting.

4. Loss of competitive advantage: In the last round of bull market, Ethereum almost dominated the market. Although there was competition, it was difficult to hide its brilliance. However, this round of situation has changed drastically, and public chains such as SOL have emerged with rapid momentum. Ethereum has not only lost the advantages of ICO and DEFI, but is also far behind SOL in the MEME field. What's more, it lacks innovation and its living space is ruthlessly squeezed. It can be said that it is unlucky and has fallen into a dilemma in the fierce competition trend.

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