CandleFocus Bitwise CIO Calls Ethereum The ‘Microsoft Of Blockchains’, Can ETH Make A Comeback?
2024-09-19
Author: Content Editor
In a recent memo, Bitwise Chief Investment Officer Matt Hougan referred to Ethereum as the "Microsoft of blockchains" and stated that none of its challenges are existential. He highlighted the weakening Ethereum price against Bitcoin, with the ETH/BTC trading pair at its lowest level in three years. While Ethereum has underperformed compared to other cryptocurrencies this year, it remains dominant in blockchain applications such as stablecoins and decentralized finance (DeFi). Institutional confidence in Ethereum remains high, as seen with BlackRock and Nike's involvement. Hougan compared Ethereum to Microsoft, emphasizing its active developers, users, and regulatory support. Despite current challenges, Hougan believes that Ethereum's opportunities are enormous.
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