Since this article is about blockchain, trading and technology news, here is the summary:

Markus Thielen, head of research at 10x Research, stated that Ether may not be the best investment option for the 2025 bull run. Thielen sees Ethereum as a weak investment in the medium term and predicts that it will underperform Bitcoin in 2025. While the trend of active validators is highlighted as a key metric, the decline in the number of validators is a concern. Other analysts expect more validation. What do you think the future of Ethereum will look like? Share your thoughts in the comments.