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يواجه Ethereum مشكلة أعمق في التشغيل البيني
كان إيثريوم ضعيفًا على الرسوم البيانية الأسبوعية والشهرية، حيث ظل منخفضًا بنسبة 53٪ تقريبًا عن مستواه القياسي. في عام 2021، تجاوزت ETH النطاق السعري البالغ 4800 دولار، لكنها فشلت في الوصول إلى هذه النقطة السعرية منذ ذلك الحين. ذكر علي مارتينيز، محلل العملات المشفرة على السلسلة، في منشور حديث على X أن حيتان Ethereum توقفت عن التراكم في أوائل يوليو. ويشير إلى أن كبار المساهمين يقومون منذ ذلك الحين ببيع أو إعادة توزيع ممتلكاتهم، مما قد يؤدي إلى انخفاض الأسعار.
توقفت حيتان #Ethereum عن تجميع $ ETH في أوائل شهر يوليو. منذ ذلك الحين، قاموا ببيع أو إعادة توزيع ممتلكاتهم من #ETH . pic.twitter.com/ySmQLL7JCD
— علي (@ali_charts) 8 سبتمبر 2024
Amid the price weakness, Multicoin partner Kyle Samani believes that interoperability issues are pressuring the price. In a recent podcast with Bankless, Samani discussed that while ETH’s market cap is among the largest globally, ‘gravity’ makes the growth difficult. Financially, ‘gravity’ means maintaining high growth consistently is difficult for larger assets or firms. Additionally, Ethereum’s price performance has been weaker against competitors like BTC and Solana.
As per the Multicoin partner, “A lot of people use Ethereum, obviously, and they hate bridging, and they hate paying the fees, and they hate waiting, and they’re waiting for the thing to confirm,”
Lack of universal standard is a hurdle
Because of the Interoperability problem, Samani explains that users find it difficult to move assets between different platforms like Binance and Coinbase or networks like Arbitrum and Base. Since each of these platforms has its own separate ledger, only wrapped tokens are generally interoperable. According to Samani, Layer 2 solutions like Polygon, Optimism, StarkWare, and Arbitrum are building their internal interoperability standards but none of them works across all networks.
The executive said, “This is fundamentally a standards problem. And the problem with standards is you have to get everyone to agree to the standard.” Therefore, universal interoperability is technically difficult. Samani further explained that even if Ethereum co-founder Vitalik Buterin were to suggest a potential standard, cooperation across Layer 2 projects was not guaranteed.
In addition, underlining Ethereum’s performance, Samani said, “If you’re a $300 billion asset, don’t tell me, show me.” The executive noted that Ethereum needs to deliver tangible results and operate at the scale it has reached.
At press time, dollars locked in Ethereum have also taken a hit. Currently, Ethereum dominates 56% of the total TVL across networks. The figure was over 60% in June and July, down from the 90% since 2020 on DefiLlama. At this time, Ethereum appears to be facing technical and market factors.