Bitwise CEO: Those who hate Ethereum will eventually discover that the Joker is themselves
According to The Block, Bitwise Chief Investment Officer Matt Hougan stated in a memo sent to clients on Tuesday that "no one likes Ethereum" in the current market because the ETH/BTC exchange rate has recently fallen below a three-year low. However, Matt Hougan believes that this actually provides a potential contrarian investment opportunity for the end of the year.
No one likes Ethereum
Despite the poor performance of the overall cryptocurrency market in the past six months, Bitcoin still rose 42% in 2024, Solana rose 27%, and Ethereum only rose 1% in comparison. Matt Hougan stated that the sentiment of the Ethereum community is very low, and the main issues causing this situation include the risk of the US election, intensified competition from Solana, token economy challenges, and poor performance of spot ETFs.
Although the United States approved an Ethereum spot ETF in July, Matt Hougan pointed out that the US Securities and Exchange Commission (SEC) still considers staking Ethereum as a security. If He Jinli wins the November election and continues the Biden administration's skepticism towards cryptocurrencies, Matt Hougan believes that Ethereum may continue to face regulatory challenges.
In addition, the performance of Ethereum spot ETFs, including Bitwise's ETHW fund, has also fallen short of expectations. The newly launched fund attracted a net inflow of $2.1 billion, but the Grayscale ETF (ETHE) experienced a net outflow of $2.8 billion, indicating that overall funds are still flowing out.
Matt Hougan also pointed out that the rise of emerging public chains such as Solana has made competition even more intense:
Nowadays, the bullish sentiment towards new chains such as Solana is very popular in the cryptocurrency circle, while the bearish sentiment towards Ethereum is gradually increasing due to the older technology and higher cost
Finally, Matt Hougan emphasized that Ethereum is focused on driving the growth of transaction volume on the Layer 2 network, which has led to the lowest revenue for the underlying chain in four years. Many people have also begun to question whether Ethereum has harmed the development of its underlying Layer 1 by excessively promoting the expansion of Layer 2.
Investment opportunities against the trend
Although these challenges have affected market sentiment and prices, Matt Hougan believes they have overlooked a very important point.
It's cool to hate Ethereum now. I bet it will eventually look foolish
Although both Ethereum and Solana are attempting to become "public computers" for decentralized applications, almost all of the applications that have truly achieved "breakthrough success" are dominated by Ethereum, have the most active developers and users, over half of stablecoins are issued on Ethereum, over 60% of DeFi assets are locked onto Ethereum, and Ethereum is still the preferred settlement layer for prediction platform Polymarket. In addition, BlackRock's on chain US bond funds with asset management scale exceeding $500 million and Nike's NFT platform are also based on Ethereum, and these achievements are difficult to ignore.
Matt Hougan said:
Ethereum is like Microsoft in the memory blockchain industry. Everyone is talking about Google, Slack, and Zoom, which makes sense because they bring transformative technologies. But Microsoft's scale still exceeds their total
Although he is not bearish on Solana or other emerging chains, Matt Hougan believes that too many people have overlooked the tremendous success that Ethereum has already achieved.
The challenges of Ethereum are not fatal, but its opportunities are full of potential. I believe that as we approach the November election and the clarity of relevant regulatory policies, the market may re evaluate Ethereum. From the current perspective, Ethereum looks like a potential contrarian investment opportunity before the end of the year, "he concluded.
(责任编辑:白银TD)
- ·Solana 生态系统详解:从融资历史到技术机制的全景分析
- ·火币积分销毁
- ·电话费少付了怎么做账
- ·vDAO 研究院:最有影响力的加密 Twittr KOL 名单
- ·分析师预测:标普500指数暴跌50%背景下,比特币或飙升至60万美元
- ·什么是股票的内盘和外盘
- ·美联储戴利称市场情绪受冲击但经济活动未受影响
- ·crv多少千瓦
- ·个税系统里的所得期是指什么
- ·火币网贷款
- ·什么天气要注意什么-什么天气要注意什么事情
- ·比特币在哪个网站挖 比特币在哪个网站挖矿
- ·YAM币最近价格-yam币价格行情
- ·如何进入区块链技术
- ·美国证券交易委员会推迟对 XRP 和狗狗币 ETF 的决定,并征求公众意见
- ·随着购买力下降,预测山寨币市场的下一步走势
- · ok币
- · okx交易所app官网
- · 易欧app官网下载
- · 虚拟货币交易平台有哪些
- · 0kx交易所官网
- · 数字货币交易平台app
- · okx交易所app官网链接
- · okx官方
- · 欧亿交易所怎么样。
- · 全球三大虚拟货币交易平台