Ether has struggled to maintain a price above $3,500, showing weakness amidst a broader cryptocurrency market rise. This decline links to a 38% drop in Ethereum-based DApps' volumes, leading to concerns among traders regarding ETH's price performance. Ethereum's on-chain activity has underperformed against peers like BNB Chain, which saw a 112% activity increase. During the reporting week, Ethereum generated just $46 million in fees, falling behind Solana, which made $71 million. Criticisms have emerged over Ethereum's layer-2 scaling solutions and rising transaction fees averaging $5.50. Meanwhile, internal disputes within the Ethereum Foundation have escalated, especially following co-founder Vitalik Buterin's recent declarations about leadership authority amidst criticism of executive director Aya Miyaguchi. This instability, coupled with diminished staking incentives, casts doubt on ETH's short-term market momentum, especially as Solana capitalizes on recent developments. Despite Ethereum's leading position in total value locked (TVL), Solana's gains challenge its dominance in the dApp ecosystem.

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