My Publish0x Stats: More views, less earnings, Vitalik to blame.
I am now making a habit of checking my Publish0x stats and my last month of the Publish0x stats , I have got 13252 views and earned $2.54 . In the current scenario, my views crossed 15000 but earnings dropped from $2.54 to $2.21. Though I am not worried about earning some 30 cents less in a month, and I guess my today's post not about the how much I earned but it is more about whether Ethereum is losing it's market cap, Are so called Ethereum killers are successful in killing the Ethereum? As for the Publish0x stats, my Likes and dislikes of the posts are almost the same.
I guess, for the last past few days, I am reading various articles that are claiming that Ethereum is going to be doomed. Even there are meme's created around Vitalik's posts and comments. In some of the articles it is claimed that Ethereum is not facing challenges or competition from the other chains but its own layer 2 solutions are dragging down it's price.
I have not much into the ETH layer 2 though at one time I accumulated MATIC tokens (some 4+ year back) and looks like after they rebranded MATIC, it do not have the same value anymore. I do own some OP and it's all thanks to Publish0x and I researched about OP earlier but look like OP is also not performing well.
I think there are 3 factors that can be considered.
i.) Overall Market Sentiment.
ii.) Ethereum getting competition from other chains.
iii) Excitements
Overall Market Sentiment.
I guess overall market sentiment whether it is stock or crypto, it is bearish in nature. So if Ethereum is trading low then we can consider that it is ok as compared to overall market condition.
Ethereum is getting competition from other chains.
Ethereum is facing competition from other chains or other so-called "Ethereum killers".
I am not sure if ETH killers will be able to replace ETH but they keep giving competition to the ETH.
Excitements
I do not think that there is any new exciting development happening in the ETH . May be ETH also need some pump.fun vibes.
My 2 cents
I think ETH is a most secure currency in which you can create smart contracts. Criticism is for the high fees and its layer 2 solves the part. May be there is no requirement now to build everything on layer 1 of ETH but whenever there is demand for a secure transactions or some high value transactions ETH will still lead the way.