Ethereum price is a turnaround play — and that’s not necessarily a bad thing.
While the price of Solana hogs headlines with momentum and “impressive” exchange-traded fund launches, Ethereum is dealing with a different narrative: recovery from depression. But according to Matt Hougan, Bitwise’s chief investment officer, that creates opportunity.
“Ethereum is very much staring down $5,000 by the end of the year and doubling or more by the end of the decade,” Hougan told DL News.
To get there requires understanding what went wrong — and what’s changing.
The depression
For some time, Ethereum’s community had been down and out.
The blockchain that pioneered smart contracts and laid the groundwork for decentralised finance has faced existential questions about its relevance.
Earlier this year, many of Ethereum’s most loyal believers were worried that the vibes were off, in no small part because of months of bad news.