According to ChainCatcher, Bitwise CIO Matt Hougan said that ETH seems to be unpopular now, but its poor price performance may be reversed as the year draws to a close.

The report believes that ETH's recent poor performance stems from risks related to the November US presidential election, increased competition from Solana and other blockchains, challenges faced by token economics, and mixed reactions to the launch of spot trading platform exchange-traded funds (ETFs) in the United States.

Hougan pointed out that as the November election approaches and regulation becomes clearer, the market may re-evaluate Ethereum. At present, Ethereum seems to be a potential contrarian investment option by the end of this year.