Disappointing to see leaders of the ethereum community unwilling to acknowledge what's wrong with the chain and blame underperformance on "people are dumb and don't get it" Ethereum has real problems right now and that's what's weighing on price. Maybe those problems are getting worked on, are temporary and will be solved down the line, but the risk that it doesn't happen or happens too slowly to keep up with competition is being priced in. Some major problems for ETH price right now: - L2s parasitic to L1 (value of activity happening in ETH ecosystem accrued mostly to L2s, not ETH) - Bad UX, including double tx approvals, fragmentation across mainnet and multiple L2s (driving users/activity to other chains) I think it takes some degree of arrogance to dismiss these concerns. Separate point: I never really got the religious zeal some people have when defending their preferred crypto, but I guess it's because I'm a skeptical and jaded journalist at heart and not a bag holder / investor.

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