- Ethereum’s core developer saw declining revenue
- However, validators and retail investors continued to support Ethereum despite this.
According to Token Terminal’s tweet on 11/12/12, The amount of Ethereum [ETH] The revenue per developer had fallen significantly since the start of the bull market. With ETH now facing increased volatility, MergeA decrease in revenue could cause additional problems for Ethereum.
Ethereum was at its peak in the bull markets last year with a revenue per core developer figure of $100M🤯
The current figure is $3M pic.twitter.com/Q6eaTPt81w
— Token Terminal (@tokenterminal) December 11, 2022
Read Ethereum’s [ETH] Price Prediction 2023-2024
As you can see, revenue per core development declined. This was due to a decrease in the number of core developers who were working on it. Ethereum Over the past few weeks, prices have fallen significantly. You can see the same trend in the chart below.
Source: Token Terminal
Despite all the FUD surrounding Ethereum and other issues, retail investors still continued to support the altcoin. According to Data Glassnode, an organization that analyzes crypto, reported that the number non-zero addresses in the Ethereum network reached an all time high of 91.1 millions on 12 December.
📈 #Ethereum $ETH Number of non-zero addresses reached an ATH at 91,104,236
View the metric:https://t.co/beS1MtIgAZ pic.twitter.com/d859yPOaRI
— glassnode alerts (@glassnodealerts) December 12, 2022
The activity on the network also increased. As you can see, the number and activity on the network increased. Ethereum On 12 December, the index reached a 4-month high.
Source: glassnode
Validators remain unfazed
The number of validators has increased by 4.96% during the last 30 days, in addition to the previously mentioned information. As of press time there were 486,000 validators in the Ethereum network.
The network’s validators continued to show support for Ethereum despite the revenue declining by 25.66% in the last 30 days, according to Staking Rewards.
Source: Staking Rewards
Holders will HODL
It wasn’t just validators that showed support for Ethereum. From the image below, it can be seen that despite Ethereum’s growing prices, the daily transaction volume in profit decreased.
This meant that many Ethereum holders were able to profit from the recent rally but decided to not sell and instead kept their altcoin. According to Santiment, the whale interest in Ethereum has increased over the past few days.
Source: Santiment
Although volatility surrounds the crypto market, it seems that the crypto community is in favor of keeping their assets. Ethereum tokens.