Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Is This The End For Ethereum Or A Generational Opportunity?

Source Newsbtc

Ethereum holders are definitely being tested by some tough times, with recent price action failing to create a bullish perspective for the digital asset. One of the major disappointments has been the performance of spot Ethereum exchange-traded funds (ETFs), which were launched in the U.S. with great fanfare. These ETFs were seen by numerous market participants as the key that could unlock significant upward movement for Ethereum. Since their introduction, they have not delivered the expected results, leaving investors frustrated.

Matt Hougan, Chief Investment Officer of Bitwise, a popular crypto index fund manager, continues to maintain a positive ETH outlook. According to him, Ethereum is still at the forefront of blockchain applications that are seeing breakthrough success.

This Is Not The End For Ethereum

The lack of positive momentum in the Ethereum market has been enough to shake the confidence of seasoned investors. The combination of uncertain macroeconomic factors, rising competition from Solana and other blockchains, and the unmet expectations surrounding the Ethereum ETFs has contributed to the pessimistic outlook for the digital asset.

Among the optimists is Matt Hougan, who shared his views in a recent memo. Hougan has maintained a bullish outlook on Ethereum, standing firm in his belief that the current challenges are only temporary and that the asset still has the potential to rebound. Hougan argues that although Ethereum has fallen behind Bitcoin and Solana’s year-to-date growth of 38% and 31%, respectively, the cryptocurrency’s long-term prospects remain strong.

In his memo, Hougan highlighted ETH’s continued dominance as the leading blockchain for decentralized applications (dApps), stating that it retains the lion’s share of activity among developers building on blockchain technology. He went as far as to liken Ethereum to the “Microsoft of blockchains.”

To support his claim, Hougan pointed to notable examples of Ethereum’s adoption by major companies. One such example is BlackRock’s tokenized money market fund, which launched in March 2024 and now has more than $500 million in assets under management. Another example is Nike’s Web3 gear platform called .Swoosh.

Ethereum has the most active developers and users. As such, Hougan believes the blockchain will be first on the radar of the next large traditional company wanting to do a blockchain product.

What’s Next For ETH?

According to Hougan, Ethereum is a contrarian bet for the rest of the year. What this basically means is that he expects Ethereum to go against the ongoing market sentiment and surprise many investors with a bullish run by the end of the year.

At the time of writing, ETH is trading at $2,440 and is up by 5.2% in the past 24 hours. This recent uptick brings Ethereum close to testing a key resistance level at $2,450 once again.

Ethereum price chart from Tradingview.com

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Silver breaks $64 as precious metals rebound — can gold hold the $4,280 line into the Fed decision?Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Author Suzie

Sep 16, Wed

Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

Sep 16, Wed

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Dow drops 631 points as the Fed hikes — but futures are rebounding: what's next for US stocks?The Dow fell 631 points and the S&P 500 closed below 7,600 after the Fed hiked rates for the first time since 2023, with the dot plot showing 16 of 18 officials expect more tightening. Asia-session futures are already recovering — here are the levels and analyst views that decide whether 7,500 holds.

Author Irene Q.

Yesterday 02: 54

The Dow fell 631 points and the S&P 500 closed below 7,600 after the Fed hiked rates for the first time since 2023, with the dot plot showing 16 of 18 officials expect more tightening. Asia-session futures are already recovering — here are the levels and analyst views that decide whether 7,500 holds.

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Yesterday 02: 45

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Popular Symbols