Three reasons to be bearish on Ethereum: founders are not interested in development, foundations continue to cash out, and on-chain activity is low

Ethereum was once hailed as the "world computer" of the blockchain industry, but recent developments have raised questions about its future prospects. From the founder's movements to the foundation's operations, to the performance of on-chain data, all of these suggest that Ethereum's future may not be bright. 1. The founder is not interested in development and is keen on private life Ethereum founder Vitalik Buterin (V God), as the soul of the project, seems to be uninterested in the technical development of Ethereum. According to observations, his GitHub code submission records show that there have not been many contributions in recent months, while his personal life is very active. This makes people wonder whether the future of Ethereum can still be led by him. 2. The Ethereum Foundation continues to sell ETH and frequently cashes out The behavior of the Ethereum Foundation has also frustrated market confidence. Data shows that the foundation has sold ETH and cashed out many times this year. This behavior shows that the foundation does not seem to be optimistic about the long-term value of ETH and chooses to cash out at the high point of the market. Such "clearing" behavior makes people worry whether their trust in the project is gradually weakening. 3. On-chain transactions are not active and gas fees are low Ethereum's on-chain data also reflects the decline in market activity. As the main public chain for decentralized finance (DeFi) and non-fungible token (NFT) applications, Ethereum has experienced high gas fees at its peak, and users flocked to it. However, the current low gas fees indicate insufficient on-chain transactions and weakened user activity, which reflects the decline in market demand for Ethereum. In summary, Ethereum's prospects are not optimistic due to multiple factors such as the founder's fading enthusiasm, the foundation's cashing out, and the sluggish on-chain transactions. For investors, it is a more prudent strategy to remain vigilant and carefully evaluate the long-term value of Ethereum. Conclusion: Although Ethereum once took the lead in the blockchain field, its future development still needs to be observed. If these negative factors continue to ferment, Ethereum's position may be challenged by emerging blockchain platforms.