#ETH ETH Prague Upgrade: Technical dividends struggle against the sell pressure curse

1. Upgrade Highlights and Market Indifference On May 7th at 18:05, Ethereum completed the Prague hard fork upgrade, with the main improvements including:
Rollup performance improved by 40%, Gas fees reduced to $0.01; introducing EIP-3074 to implement social recovery wallets;
Optimize cross-chain communication protocols.
The market generally believes that the Layer 2 sector is highly competitive, and technological upgrades are difficult to translate into token value.
2. Ecological Predicament: Developer Exodus, Application Stagnation
Number of developers: The monthly active developers on Ethereum decreased by 12% month-on-month, while Solana surpassed to become the most active public chain.
Application scenario: DeFi TVL has fallen below 50 billion USD, and NFT trading volume has shrunk to 23% of its peak in 2024;
Institutional withdrawal: Asset management giants such as BlackRock and Fidelity have seen their ETH holdings drop to a two-year low.
Analysts warn: The ETH/BTC exchange rate has dropped to 0.02193 (a five-year low), and if it falls below 0.02, it will trigger a large-scale liquidation.