Matrixport published today’s chart saying that the decline in Ethereum’s gas fees reflects that its ecosystem activity remains sluggish since the upgrade in March 2024. Coupled with the continued sluggish trading volume, ETH prices may face greater resistance to achieve a significant rise in 2025.
In 2024, Ethereum encountered strong competition from alternative protocols such as Solana and Sui, which managed to attract more users, causing their tokens to outperform Ethereum throughout the year. Without significant positive news, Ethereum may continue to be at a disadvantage in 2025, while competing projects are expected to further expand their advantages.