**Cryptocurrency News**

- Despite recent setbacks, ether {{ETH}} could become a contrarian bet by year-end, Bitwise reports.

- Most stablecoins are issued on the Ethereum blockchain, and more than 60% of all DeFi assets are locked on the network.

- Ethereum faces risks related to the US election, competition from Solana and other blockchains, and a mixed reaction to the introduction of spot ETFs in the US.

- However, Ethereum has the most active developers and users, and its market cap is 5x larger than its nearest competitor.

- Bitwise compares Ethereum to Microsoft, noting that its problems are not "existential".