**Ethereum: Is the silent giant about to wake up? **
Hello everyone! Today we are going to talk about Ethereum (ETH), the "big brother" of the blockchain world. Recently, Bitwise released a report stating that although ETH seems to be a bit "unloved" now, this situation may be reversed as the end of the year approaches. 🧐
**Reasons for ETH's recent poor performance**
First of all, there are several reasons for ETH's recent poor performance. The uncertainty brought about by the US presidential election in November is an important factor mentioned in the Bitwise report. In addition, the increased competition from Solana and other blockchains has also made ETH feel the pressure. Coupled with the challenges of token economics and the mixed reactions to the launch of spot trading platform exchange-traded funds (ETFs) in the United States, these have made ETH's price performance somewhat "sluggish".
**Ethereum's strong foundation**
Despite this, Ethereum's foundation is still very strong. Bitwise pointed out that most stablecoins are issued on Ethereum, and more than 60% of decentralized finance (DeFi) assets are locked on Ethereum. Moreover, the popular prediction market Polymarket is also settled on the Ethereum mainnet. Ethereum has the most active developers, the most active users, and a market cap that is 5 times larger than its closest competitor.
**Ethereum’s Market Position**
Ethereum is like the Microsoft (MSFT) of blockchain. While everyone likes to talk about newer companies and their game-changing technologies, such as Google (GOOG), Slack (WORK), and Zoom (ZM), Microsoft is still larger than all of them combined. Similarly, Ethereum’s position in the blockchain space is unshakable.
**Future Outlook**
With the US election approaching, the market may re-evaluate the value of ETH. Perhaps this dormant giant is about to wake up and bring us new surprises. For investors, now may be a good time to re-examine ETH.
**Interaction Time**
Friends, what do you think of the future of Ethereum? Do you think it will rebound before the end of the year? Welcome to share your views and opinions in the comment section, let’s discuss together!