The decentralized applications (DApps) on Ethereum (ETH) witnessed a notable decline in transaction volume over the past week, recording a drop of 33% to reach $39.04 billion. This mirrors the overall contraction in the cryptocurrency market, despite Ethereum's dominance in terms of total locked value (TVL) and trading volume. However, Ethereum's performance with exchange-traded funds (ETFs) has been disappointing, leading to outflows and posing a challenge to the upward trajectory of ETH prices. On the bright side, Ethereum’s TVL has surged by 9% in the last 30 days, now standing at $18.6 million, whereas BNB Chain’s TVL has shown a downward trend. The reduction in on-chain activity on the Ethereum network could potentially affect its price, although solutions like Base, Optimism, and Arbitrum remain active. This broad decline in activity points to a general loss of interest across the cryptocurrency industry.