Ethereum's Performance May Improve By Year-End, Says Bitwise

According to BlockBeats, Bitwise released a report on September 22 indicating that Ethereum, the second-largest cryptocurrency, has been largely overlooked recently. However, the report suggests that Ethereum's underperformance might reverse as the year comes to a close. So far this year, Ethereum has shown little change, while Bitcoin has risen by 38% and Solana by 31%. The report attributes Ethereum's recent lackluster performance to risks associated with the upcoming U.S. presidential election in November, increased competition from Solana and other blockchains, challenges in token economics, and mixed reactions to the potential launch of a U.S. spot exchange-traded fund (ETF). Bitwise Chief Investment Officer Matt Hougan noted, "Ethereum has the most active developers, the most active users, and a market cap five times larger than its closest competitor." Hougan compared Ethereum to Microsoft in the blockchain sector, stating, "Everyone wants to talk about newer companies and their game-changing technologies like Google, Slack, and Zoom, but Microsoft's scale is still larger than all these companies combined."