Ethereum Developers Stay Positive as Network Activity Resilient Amid ETH Price Drop
# Ethereum Builders Remain Optimistic Despite ETH Price Decline
Ethereum developers are maintaining a positive outlook as network activity shows resilience, even while the value of ETH faces a downturn. This situation takes place amidst ongoing discussions about the future and sustainability of the Ethereum ecosystem.
Despite the recent drop in ETH's dollar value, analysts highlight that the total value locked (TVL) in Ethereum is nearly at all-time highs when measured in ETH itself. "Ethereum TVL is actually near all-time highs when denominated in ETH," said Sam Ruskin, an analyst at Messari, suggesting that the capital has not significantly left the ecosystem.
Mike Silagadze, the CEO of Ether, stated, "We're still growing and getting more users and revenue, but token price is lagging." This sentiment reflects the ongoing development within the network, which continues to attract users despite the fluctuations in token price.
Kazmierczak expressed a viewpoint on the current market atmosphere, noting, "The absence of retail excitement is actually refreshing - the next cycle will be driven by real adoption, not memes, and it allows builders to focus on creating long-term value." This indicates a shift towards prioritizing substantial growth over short-term hype.
Marius Van Der Wijden, a core developer at the Ethereum Foundation, pointed out that "as we have seen with the Merge, the market is pretty bad at pricing in the fundamental technical realities of chains." This implies a disconnect between market perceptions and actual developments within the blockchain technology.
This report is for informational purposes only and is not financial advice.