ETH’s price momentum slows amid leadership disputes at the Ethereum Foundation and Solana’s expanding DApp market share.
Ether (ETH) has struggled to close above $3,500 since Jan. 7, signaling weakness even as the broader cryptocurrency market gained 6% during the same period. This underperformance can be partly attributed to a drop in the volume of Ethereum-based decentralized applications (DApps), raising concerns among traders about whether ETH price will continue to lag behind.
Onchain activity on Ethereum has significantly underperformed compared to its peers. Over a seven-day period, volumes dropped 38% to $36.5 billion, according to DappRadar.
Top blockchains ranked by 7-day DApps volumes, USD. Source: DappRadar
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