The performance of Ethereum (ETH) has been the subject of an in -depth examination following the assertions of a leading crypto expert The network is “dying”. The remakes surfaced after new data revealed an amazing Decrease in ETH revenues And the basic fundamentals, raising questions about its long -term sustainability despite the price stages.
The decline in Ethereum income stimulates the “dying” story
Messari Crypto Enterprise Research Manager, AJC, triggered controversy on social networks x after daringly declaring This “Ethereum is dying”. Its declaration focuses on the sharp drop in network income despite ETH making new heights of all time in August 2025.
According to data, Ethereum has generated only $ 39.2 million in revenues for the month – a drastic drop of 75% compared to $ 157.4 million in August 2023 and an accident of 40% compared to the $ 64.8 million recorded in August 2024. Alarm, it represents the fourth the highest monthly turnover since January 2021.
The table of income shared by research director Messari also portrays a worrying image. Ethereum previously seen income peaks exceeding $ 1 billion during the highest activity in 2021 and 2022, drawn by Decentralized finance (DEFI) And Nft booms. However, income has since cooled in historic stockings, showing a prolonged downward trend that has not overturned despite the bullish price action.
The central point of the AJC is that Fundamentals of Ethereumwhich were formerly presented as the backbone of its long -term value, cried. He argues that the wider community seems indifferent to these red flags as long as the ETH The market price continues to climb.
The cryptographic community repels the claims of the ETH
Although the AJC declarations have grown in the field, they also launched an intense decline in members of the Crypto community and the ETH. A well -known crypto commentator, David Hoffman, critical The concept of Ethereum assessment only as a revenue generating network. He argued that the essence of Eth is in his role as decentralized ecosystemThe transforming into “the emerging economy to the fastest growth”.
AJC recognized Hoffman’s point of view, but did not agree with the idea that Ethereum is the fastest economy. The research manager Messari stressed that the real advantage of ETH on Bitcoin lies in his position of technological platform. If this foundation flickers, he warned, Ethereum could lose everything BTC superiority claim.
Other voices of the industry added nuances to the debate. Rick, research analyst at Messari, against that Ethereum cannot be declared “dying” when activity measures such as application income, Stablecoin supplyAnd layer 2 scale strike records records. He described Ethereum as the most flourishing decentralized financial system to date.
AJC, however, rejected These indicators as misleading. He argued that stablecoin issuers are application income, while measures like Active addresses Or the debit fails to seize the real request. He also declared that the growth of stablescoin only matters if it increases the transaction speed and that scaling solutions do not make sense without the marginal demand for users.
Meanwhile, another member of the community, Leon Lanza, supported This Ethereum should not be compared to technological actions, highlighting its goods of the goods type. According to him, the raw materials are not strictly valued on income. AJC against That even in this context, income remains essential because it is labeled in ETH and historically stimulates the demand for consumption.
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