**Ethereum Faces Tough Competition, But There's a Silver Lining! 🌟**

- VanEck's August 2024 Crypto Monthly Recap highlights Ethereum's (ETH) price struggles.

- Key issues: declining network revenue, policy choices, and value extraction by layer-2 solutions.

- Solana (SOL) and other high-throughput blockchains are stealing the spotlight.

- Ethereum's first-mover advantage in DeFi is being challenged by Solana, Sui (SUI), and Aptos (APT).

- Developers are flocking to faster networks, avoiding Ethereum's transaction bottlenecks.

- Internal competition from layer-2 networks has slashed Ethereum fees by 99% since the Dencun upgrade.

- Too many Ethereum scaling solutions, says Anoma co-founder Adrian Brink.

Stay tuned for more updates! 🚀