Bitwise: Ethereum is the Microsoft of the blockchain field, a poor performance of ETH might see a reversal by the end of the year

PANews reported on September 19th, according to CoinDesk, Bitwise released a report stating that despite Ethereum's (ETH) recent poor performance, it may reverse before the end of the year. The report pointed out that most stablecoins are issued on the Ethereum network and more than 60% of DeFi assets are also locked on this chain.

Bitwise Chief Investment Officer Matt Hougan likened Ethereum to "Microsoft in blockchain". Despite intensified competition, Ethereum still has the most developers and users, with a market value five times closer to its competitors. The report believes that the challenges ETH currently faces are not "life-threatening", and it could become an investment opportunity by the end of the year.