Ethereum compromises its uniqueness by shifting value to layer-2s — Standard Chartered

According to Geoff Kendrick, who heads digital assets research at Standard Chartered, Ethereum is now experiencing a "mid-life crisis", struggling to sustain investor interest and keep its price above $2,050. Over the past three months, ETH has plunged 40%, hitting a low of $1,774 in early March. 

As the network has morphed into a platform for secondary ecosystems, it has lost its unique identity and diminished in value, Kendrick argues.

Kaiko analyst Adam McCarthy suggests that the decline in interest around Ethereum is partly due to a decay in user activity. This view is supported by Carol Alexander, a professor of finance at the University of Sussex, who observed the stagnation in network growth alongside increasing internal divisions within the community. She noted the goal of creating a truly decentralized network seems to be elusive.

Additional criticism came from Harikrishnan Mulackal, a former Ethereum Foundation engineer. He highlighted the lack of a clear and coherent vision for the project's future. The expert advocated for more regular updates, suggesting that the Ethereum team should strive to implement a hard fork every quarter. Mulackal warned that without such proactive steps, Ethereum risks falling into a pattern of stagnation similar to what it has experienced over the past few years.