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:个股)
- ·柚子币历年行情-柚子币历年走势
- ·BSV币最新价格 BSV币今日行情 BSV币最新消息
- ·Ripple 的悄然崛起:比特币 Maxis 是否应该担心 XRP 日益增长的影响力?
- ·靠谱的山寨币交易平台
- ·火币网元宝网
- ·时代狗狗币平台
- ·火币网ico
- ·炒币用哪个平台-炒币用哪个平台好
- ·360借条上征信么?申请360借条的条件是什么?
- ·DePIN&AI項目Network3首批礦機120天回本!
- ·信用贷会影响公积金贷款吗?有人知道吗?
- ·emc崛起币价格-崛起币的最新价格
- ·捷信可以申请现金贷吗?具体怎么做。
- ·SEC因缺乏明确监管准则终止对Ripple的长期诉讼
- ·税负率是按月来计算还是按年
- ·挖矿电源最高多少电压
- ·购入研发设备怎么做账务处理
- ·矿机系统的行情-矿机系统的行情分析
- ·企业资产交易平台-企业资产交易平台有哪些
- ·Sam Altman 的 World Network 获得 1.35 亿美元新融资,WLD 股价飙升 31%
- ·KuCoin库币发布最新公告 邀请会员参与价值20000美元的GO奖金池
- ·呼玛属于什么市什么县
- ·FT起诉LayrZro Labs 寻求追回破产前转移的超过2100万美元
- ·blockchain如何使用
- ·Bitfinex report: If Bitcoin market share reaches a local peak, altcoins may perform better than the overall market in the coming months
- ·前任美联储分析师表示 稳定币的风险低于银行存款
- ·欧易交易所下载
- · 数字货币交易app
- · 虚拟货币交易平台排名
- · 易欧app官网下载
- · 欧易app官方下载入口
- · 欧易交易所 电脑
- · 虚拟货币交易平台排名
- · 加密货币交易所
- · okx官方
- · 虚拟货币交易
- ·什么什么有雨也不多-什么什么有雨也不多的成语
- ·本周值得重点关注的三种山寨币:SHIB、SOL、MATIC
- ·A mining site in Norway has been forced to close due to noise issues, and residents' annual electricity bills may increase by nearly 300 magnesium
- ·Aptos声明未受Sui网络Cetus事件影响,DeFi与NFT市场数据持续更新
- ·Multicoin 联创:为何 ETH 价格不如人意?对以太坊的全面对比思考
- ·bicc交易平台认证
- ·股票风险多大
- ·德克萨斯州立法机构通过比特币储备法案
- ·火币交易比特币
- ·SOL币与BCH的区别详解