The Ethereum network is faced with a “narrative crisis”, ETH is defeating its community with its community.
After the Ethereum ecosystem is proclaimed, the Ethereum ecosystem continues to endure the shadow, gradually casting doubt on its market advantage.
Crypto -liders discuss the narrative crisis Ethereum
Zach Rains, the connection with the community in Cheathlink, claims that the Ethereum does not have enough unified economic narrative. It quotes the separation that has left Ethereum vulnerable to constant narrative rods. This, according to Rains, weakens the conviction of investors.
“We still have two camps. Those who consider income are the most important story (ultrasonic money or some story about profitability) and those who think about owls. [store of value] This is the most important story (programmable money), ”said Rins.
Each side claims that this is correct and the other is wrong. However, according to the connecting binding links, this threatens the long -term Ethereum appeal against the background of increasing competition.
The ultrasound story about money was dominant during the peak income of Ethereum in 2021. However, since then he hesitated, from the level of level-2 (L2), such as arbitrators and optimism that absorb the growing share of gas and MEV (maximum cost).
This left Ethereum with reduced income Layer-1 (L1) and a decrease in economic dominance.
“Ethereum has lost the most valuable part of the stack for L2S, optimizing for the least valuable part. Now he needs a crazy one to make his economy, ”Rhines mentioned.
On the other hand, the teacher of Ethereum and investor-angel Sassal emphasized that Eth must fully accept his role as SOV, and not just the appraisal metrics based on the board.
“If ETH is valued only by income received, then it will never cost a lot,” he said.
Ethereum as a value store
Sassal claims that the sustainable cost status depends on the widespread narrative, the general belief similar to the status of Bitcoin digital gold. Nevertheless, the fragmented positioning of Ethereum contrasts sharply with Bitcoin’s consistent branding.
Critics, such as Planb, the creator of the model of the reserve for the flow, called on Ethereum for its centralization and pre -worked out origin.
Beincrypto said that Planb called Ethereum a “technocratic control”, and not a decentralized hard asset.
“Pre-Mine-big red flag, but I think that some people just do not care,” the planet said.
Meanwhile, the internal tension of the developer enhances these problems. The recent dispute about the Ethereum roadmap and L2 design philosophy emphasizes the ongoing control stress. Taken together, these are dousing the story of Ethereum further.
On the contrary, competing networks, such as SOLANA (SOL) and BNB Chaine, are moving forward with single narratives. The speed, cost efficiency and experience of developers throw a shadow on Ethereum.
While Ethereum is not enough for clear economic identity, it risks losing relevance for competitors with a simpler, more united message exchange.
It may be necessary to design the narrative in order to maintain its dominance in the market and intellectual leadership in Web3. This may be a way to use its programmability, security and decentralization, without leaning too hard to incorrect comparisons or illusions of income.
“ETH should be its own asset with its own history, and no one found out exactly what it is,” said Rins.
Can Ethereum resolve its identification crisis before the market goes to a simpler, faster or more ideologically united chains?
The answer can determine whether ETH remains the second largest altcoin Crypto for market capitalization or an example of broken innovations.
