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Ethereum And Solana Are Topping Developer Activity Again, But Why Are Their Prices Struggling?

Despite leading in crypto developer activity, Ethereum and Solana are experiencing significant price struggles. Data from Artemis shows Ethereum’s ecosystem, particularly its EVM, leads with 31,620 weekly commits, followed by Solana’s SVM with 7,056. However, both networks have seen sharp declines: Ethereum’s weekly commits dropped 54% and developer activity fell 34% over three months, while Solana saw declines of 43% and 40%, respectively. The broader crypto ecosystem has also suffered, with weekly commits plummeting from 870,900 in March last year to 217,500 in February. Analysts attribute the price weakness to an ongoing bear market. CryptoQuant’s Julio Moreno suggests Ethereum could fall to $1,500 by late 2024 if the downturn continues, citing an “adoption paradox” where network activity rises while prices fall. Market experts predict further declines, with Bitcoin potentially bottoming between September and October.

bitcoinist03/14 20:32