Ethereum dilemma: MEME War Layer2 anti -bull and value redefine life and death line

The market's confidence in Etheri seems to be shaking, the hidden cost of overlapping the Layer2 war, the siphon absorption effect of the Solana Meme economy, in many controversy, the future road of Ethereum seems to become more vague.

"The second child of the year" Ethereum appears to be incompatible in this round of bull market. Compared with the strength of Bitcoin and SOL, ETH has been hovering around $ 3,000. In addition, the frequent sales of the Ethereum Foundation have triggered strong dissatisfaction in the community. The market's confidence in Ethereum seems to be shaken. The future of the future seems to become more blurred.

EF frequently sells coins "failed"

Ethereum Foundation (EF) has been selling ETH intermittently, and has recently sold 100 ETHs, worth about $ 307,893. Data from Blockchain Analysis Company Spotonchain shows that this is the third ETH sales of the foundation in 2025.


In January this year, EF sold a total of 300 ETH (data as of January 27) for about $ 981,200. Market observer pointed out that the selling behavior of the foundation put pressure on the price of Ethereum. As of press time, the price of ETH transactions was slightly higher than $ 3,000, a 30 -day decrease of more than 7%.


However, the Ethereum Foundation still holds a large number of ETH reserves. According to Arkham Intelligence, the Foundation has 269,175 ETH, worth about $ 817 million.

At the same time, Ethereum's on -chain activities have also obviously lagging behind other competition chains.

According to DAPPRADAR data, in seven days, the transaction volume on the Ethereum chain decreased by 38%to $ 36.5 billion.


In contrast, the activities on BNB Chain increased by 112%, while Solana increased by 36%.

According to DEFILLAMA data, from January 14th to January 21, Ethereum only cost $ 46 million in fees. In contrast, Solana charged $ 71 million in fees. If Raydium, Jito, and Meteora contributed, the total period of the same period reached US $ 309 million.

Ethereum L2 is criticized like "Chuangya": the "splitting" behind

prosperity,

When ETH's performance is sluggish, the Ethereum Foundation is facing severe challenges, and the voices of innovation and internal reorganization are getting higher and higher. The rise of competitors such as Solana and other competitors has exacerbated the necessity of Ethereum to improve its strength and innovate in the ecosystem to maintain its competitive advantage.

The emergence of Layer 2 solutions such as Optimism, Arbitrum, etc., which relieves the congestion of the Ethereum main network and the high GAS fee problem. However, the competition between these Layer 2 is becoming increasingly fierce, and the problem of fragmentation of ecosystems is also prominent.

Michael Egorov, the founder of the decentralized exchange, criticized in a report that L2 "is more like a band -aid ... and a temporary solution instead of establishing a foundation of sustainable strategy." He emphasized that the ROLLUP roadmap It hindered the combined ability and "leaked" most of ETH's values ​​to L2 token and its operating company.

The Ethereum Foundation Justin Drake appealed in a post shared on the X last weekend: "Enable the native Rollup technology to end the era of Layer2 cutting."

Paradigm of encrypted research and investment companies also called for reform. The company believes that Ethereum's current annual upgrade plan limits its ability to innovate and effectively respond to market trends. Paradigm said: "Accelerating the development of Ethereum will enable more people to enjoy the convenience of innovative innovation, helping to pave the way to the financial system that truly globalized and trust."

Faced with increasing pressure, the Ethereum Foundation announced the plan to allocate 50,000 ETH (about 165 million US dollars) to support its decentralized financial ecosystem.

Vitalik Buterin, co -founder of Ethereum, said that the foundation is indeed "major adjustments" to the leadership to improve transparency and better support developers.

Technical analysis: Key support and market emotional game

If the boat is engaged in the sword, February and March have always been rising for ETH.

CoingLASS data shows that in the past six consecutive years, ETH has risen in February, with a maximum increase in 2024. At that time, it rose from 2,280 US dollars to $ 3,380 at the end of the month, an increase of more than 46%. It is also a favorable period for ETH in March. In the past nine years, seven years have risen in March, while in April, it has risen for six years.


Engineer and analyst, Wolf, posted on X on January 26th: "With the experience of eight years of analysts, I can confidently say that I have never seen a chart as strong as ETH. The potential here is unparalleled. This is the best asymmetric bet you can make.

Technical analyst Rakesh believes that ETH/USDT may fall to $ 2,850, which may become a powerful support. If the price rebounds from 2,850 US dollars, but falls from the 20 -day moving average ($ 3,308), it indicates that the shorts are selling at every high. This increases the risk of falling below $ 2,850. If this happens, the transaction may fall to $ 2,400.


There is not much time to leave the bulls. If they want to stop falling, they must push the price back above the 50 -day mobile average ($ 3,455), and then ETH/USDT may continue to rebound to $ 3,745.

In summary, when Solana uses MEME currency to reconstruct the flow entrance, Layer2 becomes a value -spectrum, and the moat of Ethereum seems to be severely eroded. The technical advantage must be converted into ecological dominance. The loss of each price support can trigger the collapse of faith. Where Ethereum will go, time will tell us the answer.