Ethereum News: Developer Activity Declines Across Major Crypto Networks

Recent data indicates a significant shift in the crypto landscape, with developer activity on major networks experiencing a notable decline. This trend, particularly prominent on Ethereum, the cornerstone of the crypto ecosystem, poses questions about the future of the industry.

A Silent Exodus: Developers Are Gradually Abandoning Crypto

Developer activity on Ethereum, a pillar of the crypto ecosystem, has dropped by 11.8% in one month. Other networks such as BNB Chain, Polygon, and Arbitrum are also experiencing a decline in metrics, with some networks losing up to 25% of their activity. Ethereum, with 165,700 recorded development events, still leads but is showing cracks with a decrease in contributors and activity. This trend challenges the myth of the invincible crypto ecosystem, with potential reasons including the growing complexity of updates.

Ethereum Price Falls Below $1,800

Ethereum (ETH) is hovering close to its key support levels as its price dived below the psychological $1,800 mark amid market-wide bearish conditions. ETH dropped to $1,769 earlier today and is down 19% over the last 30 days. According to an analysis, ETH is trading 35% below its 200-day exponential moving average.

Ethereum Drops 43.98% While BlockDAG Raises $209.5M With 2,380% ROI— Keynote 3 Reveals Why Devs Are Making the Switch!

Ethereum, once the top platform for decentralized apps, now faces competition from alternatives like BlockDAG. BlockDAG offers better scalability, lower costs, and stronger security with its combination of DAG and PoW systems. Ethereum struggles with slow transactions and high fees, making BlockDAG a preferred option for many developers seeking performance and simplicity.

Ethereum NFT Marketplace X2Y2 Shutting Down, Pivoting to AI

Ethereum NFT marketplace X2Y2 announced it is shutting down its trading platform at the end of April as the team shifts focus to the intersection of artificial intelligence (AI) and crypto. X2Y2’s smart contracts will remain active, allowing trades to be executed, but the website’s front-end will be unavailable after April 30. The pseudonymous founder TP acknowledged that the move might affect token prices negatively. The marketplace once peaked as the second largest behind OpenSea, reaching $5.6B in trading volume.