Down 62% From Its High, Is Ethereum a Value Play or a Classic Value Trap?

Ethereum has fallen 62% from its all-time high of $4,954 and released a new 'Lean Ethereum' roadmap promising upgrades including quantum resistance, faster transactions, and improved privacy by 2029. However, the author remains bearish, arguing that value is flowing to Layer-2 blockchains rather than Ethereum itself, and competitors like Solana are outpacing it in transaction speeds. Despite institutional efforts and foundation changes, these improvements may be too little, too late.