{"id":277080,"date":"2022-12-13T06:00:46","date_gmt":"2022-12-13T00:30:46","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=277080"},"modified":"2022-12-12T16:38:14","modified_gmt":"2022-12-12T11:08:14","slug":"ethereum-holders-push-back-amid-the-bear-market-and-declining-revenue","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/ethereum-holders-push-back-amid-the-bear-market-and-declining-revenue\/","title":{"rendered":"Ethereum holders push back amid the bear market and declining revenue\u00a0"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Ethereum witnessed declining revenue per core developer<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Despite this, retail investors and validators continued to support Ethereum<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">According to a tweet by Token Terminal on 11 December,<\/span><span style=\"font-weight: 400;\"> the amount of <a href=\"http:\/\/ambcrypto.com\/category\/ethereum-news\/\">Ethereum [ETH]<\/a> revenue per developer had declined significantly since the beginning of the bull market. With ETH facing increasing volatility after the <\/span><a href=\"http:\/\/ambcrypto.com\/ethereum-merge-approaches-its-3-month-anniversary-and-metrics-look-quite\/\"><span style=\"font-weight: 400;\">Merge<\/span><\/a><span style=\"font-weight: 400;\">, declining revenue could pose additional problems for Ethereum.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">At the peak of the bull market last year, Ethereum had a &#39;revenue per core developer&#39; figure of ~$100M \ud83e\udd2f<\/p>\n<p>At the moment, the figure is ~$3M <a href=\"https:\/\/t.co\/Q6eaTPt81w\">pic.twitter.com\/Q6eaTPt81w<\/a><\/p>\n<p>&mdash; Token Terminal \ud83d\udcca (@tokenterminal) <a href=\"https:\/\/twitter.com\/tokenterminal\/status\/1601954213445398529?ref_src=twsrc%5Etfw\">December 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read <\/span><a href=\"http:\/\/ambcrypto.com\/predictions\/ethereum-price-prediction\"><span style=\"font-weight: 400;\">Ethereum&#8217;s [ETH] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2023-2024<\/span><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">As can be seen from the image below, the revenue per core developer decreased materially. This happened as the overall number of core developers working on<\/span> <a href=\"http:\/\/ambcrypto.com\/ethereum-sees-increase-in-this-set-of-holders-should-you-anticipate-a-rally\/\"><span style=\"font-weight: 400;\">Ethereum<\/span><\/a><span style=\"font-weight: 400;\"> plummeted over the past few weeks. The same cam be seen in the chart given below.<\/span><\/p>\n<figure id=\"attachment_277088\" aria-describedby=\"caption-attachment-277088\" style=\"width: 2194px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/FjtIE-iWIAI8555-1.jpeg\"><img decoding=\"async\" class=\"size-full wp-image-277088\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/FjtIE-iWIAI8555-1.jpeg\" alt=\"\" width=\"2194\" height=\"1326\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/FjtIE-iWIAI8555-1.jpeg 2194w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/FjtIE-iWIAI8555-1-300x181.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/FjtIE-iWIAI8555-1-1024x619.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/FjtIE-iWIAI8555-1-768x464.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/FjtIE-iWIAI8555-1-1536x928.jpeg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/FjtIE-iWIAI8555-1-2048x1238.jpeg 2048w\" sizes=\"(max-width: 2194px) 100vw, 2194px\" \/><\/a><figcaption id=\"caption-attachment-277088\" class=\"wp-caption-text\">Source: Token Terminal<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Despite this and other FUD surrounding Ethereum, retail investors continued to show their support for the altcoin. <\/span><span style=\"font-weight: 400;\">According to <\/span><span style=\"font-weight: 400;\">data<\/span><span style=\"font-weight: 400;\"> sourced from Glassnode, a crypto analytics organization, the number of non-zero addresses on the Ethereum network reached an all-time high of 91.1 million on 12 December.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcc8 <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> Number of Non-Zero Addresses just reached an ATH of 91,104,236<\/p>\n<p>View metric:<a href=\"https:\/\/t.co\/beS1MtIgAZ\">https:\/\/t.co\/beS1MtIgAZ<\/a> <a href=\"https:\/\/t.co\/d859yPOaRI\">pic.twitter.com\/d859yPOaRI<\/a><\/p>\n<p>&mdash; glassnode alerts (@glassnodealerts) <a href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1602140075520888832?ref_src=twsrc%5Etfw\">December 12, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, the activity on the network increased as well. From the chart below, it can be observed that the number of transfers on the <\/span><a href=\"http:\/\/ambcrypto.com\/ethereum-may-consider-dao-stablecoins-for-the-future-as-eth-slides\/\"><span style=\"font-weight: 400;\">Ethereum<\/span><\/a><span style=\"font-weight: 400;\"> reached a four-month high on 12 December.<\/span><\/p>\n<figure id=\"attachment_277089\" aria-describedby=\"caption-attachment-277089\" style=\"width: 2400px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/glassnode-ETH.jpeg\"><img decoding=\"async\" class=\"size-full wp-image-277089\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/glassnode-ETH.jpeg\" alt=\"\" width=\"2400\" height=\"1200\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/glassnode-ETH.jpeg 2400w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/glassnode-ETH-300x150.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/glassnode-ETH-1024x512.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/glassnode-ETH-768x384.jpeg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/glassnode-ETH-1536x768.jpeg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/glassnode-ETH-2048x1024.jpeg 2048w\" sizes=\"(max-width: 2400px) 100vw, 2400px\" \/><\/a><figcaption id=\"caption-attachment-277089\" class=\"wp-caption-text\">Source: glassnode<\/figcaption><\/figure>\n<h3>Validators remain unfazed<\/h3>\n<p><span style=\"font-weight: 400;\">Alongside the aforementioned infromation, the number of validators on the network grew by 4.96% over the last 30 days. At press time, there were 486,000 validators on the Ethereum network.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The network&#8217;s validators continued to show support for Ethereum despite the revenue declining by 25.66% in the last 30 days, according to <\/span><a href=\"https:\/\/www.stakingrewards.com\/earn\/ethereum-2-0\/\"><span style=\"font-weight: 400;\">Staking Rewards<\/span><\/a>.<\/p>\n<figure id=\"attachment_277091\" aria-describedby=\"caption-attachment-277091\" style=\"width: 1240px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-12-at-2.03.18-PM.png\"><img decoding=\"async\" class=\"size-full wp-image-277091\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-12-at-2.03.18-PM.png\" alt=\"\" width=\"1240\" height=\"718\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-12-at-2.03.18-PM.png 1240w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-12-at-2.03.18-PM-300x174.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-12-at-2.03.18-PM-1024x593.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Screenshot-2022-12-12-at-2.03.18-PM-768x445.png 768w\" sizes=\"(max-width: 1240px) 100vw, 1240px\" \/><\/a><figcaption id=\"caption-attachment-277091\" class=\"wp-caption-text\">Source: Staking Rewards<\/figcaption><\/figure>\n<h3>Holders are going to HODL<\/h3>\n<p><span style=\"font-weight: 400;\">It wasn\u2019t just validators that showed support for Ethereum.\u00a0<\/span><span style=\"font-weight: 400;\">From the image below, it can be seen that despite Ethereum&#8217;s growing prices, the daily transaction volume in profit decreased.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> This indicated that even though many Ethereum holders had a chance to benefit from this recent rally, they decided not to sell and held on to the altcoin. <\/span><span style=\"font-weight: 400;\">Additionally, whale interest surrounding Ethereum grew over the last few days, according to Santiment.\u00a0<\/span><\/p>\n<figure id=\"attachment_277092\" aria-describedby=\"caption-attachment-277092\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Ethereum-ETH-14.32.49-12-Dec-2022.png\"><img decoding=\"async\" class=\"size-full wp-image-277092\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Ethereum-ETH-14.32.49-12-Dec-2022.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Ethereum-ETH-14.32.49-12-Dec-2022.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Ethereum-ETH-14.32.49-12-Dec-2022-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Ethereum-ETH-14.32.49-12-Dec-2022-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Ethereum-ETH-14.32.49-12-Dec-2022-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Ethereum-ETH-14.32.49-12-Dec-2022-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/12\/Ethereum-ETH-14.32.49-12-Dec-2022-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-277092\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Even though there is a lot of volatility surrounding the crypto market, it appears that the crypto community stood in favor of holding on to their <\/span><span style=\"font-weight: 400;\">Ethereum tokens<\/span>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum witnessed declining revenue per core developer Despite this, retail investors and validators continued to support Ethereum According to a tweet by Token Terminal on 11 December, the amount of Ethereum [ETH] revenue per developer had declined significantly since the beginning of the bull market. With ETH facing increasing volatility after the Merge, declining revenue<a href=\"https:\/\/ambcrypto.com\/ethereum-holders-push-back-amid-the-bear-market-and-declining-revenue\/\">Continue reading <span class=\"sr-only\">&#8220;Ethereum holders push back amid the bear market and declining revenue\u00a0&#8220;<\/span><\/a><\/p>\n","protected":false},"author":70,"featured_media":277122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,32,66,3,4,20],"tags":[],"class_list":["post-277080","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-ethereum-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ethereum holders push back amid the bear market and declining revenue\u00a0 - 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