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**Why Can't Ethereum (ETH) Rise? When Will the Price Increase?**

Ethereum (ETH), the largest altcoin, has disappointed investors in 2024, especially compared to Bitcoin (BTC), which has been performing well.

Matt Hougan, Chief Investment Officer at Bitwise, has shared some positive thoughts about Ethereum. According to Coindesk, Hougan noted that while Ethereum's price has been stagnant this year, Bitcoin has risen by 38% and Solana (SOL) by 31%.

Hougan believes that despite Ethereum’s poor performance now, things might change by the end of the year. He pointed out several factors affecting ETH:

- **US Election Risks:** Ethereum faces uncertainties related to the US presidential election. Unlike Bitcoin, Ethereum has not fully passed regulatory checks, and there’s concern that if Harris wins and the Biden administration remains skeptical, Ethereum could face more issues.

- **Competition and Other Issues:** Increased competition from other blockchains like Solana, problems with the token economy, and the failure of spot ETH ETFs in the US are also affecting Ethereum.

However, Hougan emphasized that Ethereum’s fundamentals are still strong:

- Most stablecoins are built on Ethereum.

- Over 60% of DeFi assets are on Ethereum.

- Popular prediction market Polymarket is also based on Ethereum.

Hougan suggests that Ethereum’s current challenges are not due to its fundamentals, so its price might increase as we approach the US elections, potentially rising towards the end of the year.#Write2Earn! #ETH🔥🔥🔥🔥 #Write2Earn! #ETHETFsApproved