Ether (ETH) continues to spark criticism and speculation in the crypto community. Many express dissatisfaction with Ethereum's current trajectory.
ETH as an Investment: Expert Opinions
Quinn Thompson, founder of the Lekker Capital hedge fund, argues that ETH is no longer a viable investment. According to him, the asset with a market cap of $225 billion is seeing declines in transaction activity, user growth, fees, and revenue. He highlights that the network still holds utility, but as an investment, it is dead.
Criticism Towards VCs and Bitcoin Maxis
Nic Carter, co-founder of Coinmetrics, agrees that ETH is dead as an investment. He argues that greedy L2 networks are siphoning value from the main blockchain, and that there is a social consensus for excessive token creation in the Ethereum ecosystem. The analyst noted that ETH buried itself under its own avalanche of tokens.
Current ETH Market State
At the time of writing, ETH was worth around $1,830, having lost almost 50% of its value from a year ago.
The ongoing criticism and declining metrics of Ethereum once again raise questions about its long-term investment appeal. However, despite all discussions, the network remains a crucial part of the crypto ecosystem.
