Ethereum’s on-chain ecosystem has recently been shaking by waves of fraud and rug pulls, creating a period that many have explained. Bloodbath. The underlying technology of the ETH blockchain remains robust and secure, but the vast amount of malicious projects and deceptive schemes has hit retail investors’ trust.
Is Ethereum still home to Defi Innovation?
The Ethereum on-chain ecosystem is plagued by fraud and rug pulls, which makes it quite economical as a result loss And, even more importantly, the decline in retail investors’ trust. The analyst known as Fat Tony of X has Expression Profound frustration that Booy has not gained any further support from Ethereum’s own community, perhaps due to a wave of malicious conduct against the ETH ecosystem.
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He highlighted the book Ethereum (Booe) as an exemplary project that embodies what ETH stands in and distinguishes itself through several important characteristics. There are no paid cols as the project does not rely on paid crypto influencers for promotion. This is a common tactic used by fraudulent projects to pump tokens.
With a resilient community, Boo has built the foundation into a strong, organic community. support. The generous team he praises for his generosity and ethical approach is in stark contrast to the greed of con artists.
Furthermore, Tony has pointed out by many celebrities ETH Founder The account is interacting with the project. This project is expected at this point. Therefore, he encourages the ETH community to support Booe. stand For something, and to move away from the speculative thinking of zero vision and maximum extraction.
How the ETH ecosystem must fight back
While fraud and rug pull erode retailer trust, Sassal0x, founder of Thedailygwei, is also an investor. It was revealed It’s a harsh criticism of Ethereum’s competitor chain, accusing them of engaging in a hopeless legal strategy to curb the growth of Eth’s tier 2 solutions. In his view, this is not a sign of strength, but a clear acceptance of weakness.
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According to Sassal0x, the overwhelming adoption of ETH L2 shows a free advantage marketthe reality that no competitors have a viable path to challenge ETH control.
Analyst Note that this new strategy at hand comes after a long-term FUD (fear, uncertainty, doubt) campaign. Misinformation has proven ineffective in slowing L2 growth, so competitors are now relying on using nation-state governments to kill competition.
As a result, Sassal0x concludes with a strong call to action for the Ethereum community. Rather than being complacent, the ETH ecosystem must fight back against this as much as possible.
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