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Ethereum’s decentralized apps (DApps) have witnessed an astonishing surge, raking in a staggering $1 billion in fees during Q1 2025. However, the cryptocurrency itself has been underwhelming, falling by a significant 41.63% between January and April. This stark contrast raises concerns about Ethereum’s value as a capital asset.
Despite Ethereum’s DApps demonstrating remarkable resilience, the platform’s token, ETH, seems to be disconnected from its own ecosystem’s success. It is imperative to scrutinize this anomaly further, considering the market’s sentiments towards other cryptocurrencies.
On one hand, Ethereum’s network utility has never been stronger, with fees reaching unprecedented heights. On the other hand, the number of Ethereum whales has decreased by 10% since mid-February, and daily active addresses have steadily declined throughout March and early April. This trifecta of underwhelming performance by ETH is a stark contrast to the thriving DApps.
In light of this information, it appears that the market is increasingly skeptical about Ethereum’s long-term prospects as an investment asset.
Source: https://ambcrypto.com/ethereum-dapps-are-thriving-with-1b-in-fees-but-what-about-eths-price/
