TechFlow reported on March 25, citing the Financial Times, that Geoff Kendrick, head of digital assets research at Standard Chartered, said Ethereum is experiencing a "midlife crisis," struggling with a series of technological upgrades aimed at attracting a broader audience.
Ethereum developers have been trying to improve network speed and efficiency by offloading transaction processing to third parties. However, this has redirected fee revenue to third-party networks known as Layer 2s, rather than benefiting Ethereum developers. Kendrick described this decision as having "given up value for free" and added that "Ethereum has essentially commoditized itself."
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