Ethereum may be in a lull right now, but according to Bitwise’s chief investment officer Matt Hougan, critics of the blockchain will likely look “funny.” Hougan acknowledges that negative community sentiment toward Ethereum is growing. The ETH/BTC ratio is at a three-year low, and Ether’s price is stagnant compared to Solana (SOL) and Bitcoin (BTC).

However, Ethereum still hosts 50% of stablecoins and 60% of all decentralized finance assets. Hougan notes that Ethereum is still seeing significant real-world interest. Ethereum was also seen at the TOKEN2049 conference.

Ethereum’s 2,615 active developers made more than 37,800 GitHub commits last week. Hougan predicts that large traditional companies will turn to Ethereum for their blockchain products.

The “vibes” in the Ethereum community are currently challenging, but Hougan notes that the upcoming US presidential election could bring some regulatory clarity. He sees Ethereum as a potential contrarian investment by the end of the year.

How do you think the future of Ethereum will shape up? Share your thoughts in the comments.