Is Ethereum beyond redemption? 21Shares refutes: ETH has enormous potential! It's like Amazon in the 1990s.

After the EthereumSpot ETF was launched, investors' response was tepid, and the Ethereum price did not show significant improvement. However, as one of the eight issuers of EthereumSpot ETF in the United States, encryption asset management company 21Shares stated today that investors largely still do not realize Ethereum's potential, similar to Amazon in the early 1990s. (Background: Ethereum Foundation is afraid of fear, uncertainty and doubt! Researcher leaves EigenLayer advisory position) (Background: Analyzing 6 major reasons for Ethereum's stagnant rise: upgrade unexpected impact, ETF failure, failure to keep up with the trend..) The first batch of EthereumSpot ETFs in the United States was launched in July, but compared to the BitcoinSpot ETF, the inflow of funds was relatively less, and the Ethereum price has not shown improvement recently. Leena ElDeeb, a research analyst at encryption asset management company 21Shares, analyzed today that only when the potential of Ethereum is understood, will there be a large influx of funds into EthereumSpot ETF: Ethereum is very complex, a bit like Amazon in the 1990s—full of potential, but its uses are not very intuitive. Federico Brokate, Vice President and Head of US Business at 21Shares, added that Amazon was initially an online bookstore, and few people could predict its transformation into a global e-commerce and cloud computing giant, reshaping the way people shop and use digital services. Similarly, Ethereum was initially a platform supporting basic smart contracts. Since its launch in 2015, it has supported over $140 billion in Decentralization financial applications: Just as Amazon surpassed the book domain and redefined the entire industry, Ethereum may also bring surprises with revolutionary applications that we cannot fully imagine today. Although Ethereum's current $320 billion Market Cap accounts for only 6.25% of Amazon's $2 trillion valuation, Federico Brokate pointed out that one advantage Ethereum has over Amazon in the 1990s is the vast talent dedicated to making the internet useful: by the end of the 1990s, Amazon employed about 7,600 staff. In comparison, the Ethereum network now has over 200,000 active developers, including software engineers, researchers, and protocol designers, all contributing to Ethereum's development. Amazon now has over 1.5 million employees globally, and we may see a similar growth trajectory in the Ethereum ecosystem. The future potential of Ethereum is still enormous. Despite facing challenges from Solana and other L1 competitors, Ethereum still dominates in DEX, lending, stablecoins, and RWA markets. BlackRock has tokenized over $533 million in money market funds on Ethereum, UBS recently launched tokenization funds on Ethereum, and PayPal and Visa are also developing on Ethereum. Federico Brokate bluntly stated that only a few investors understand Ethereum's potential, and many choose to wait and see on EthereumSpot ETF. Leena ElDeeb added that short-term investors remain cautious and are not willing to invest in EthereumSpot ETF until the potential and use cases of Ethereum become clearer: But we are still optimistic that as the market matures and Ethereum's diversified applications grow, investor sentiment and adoption rates will follow a similar path of continuous growth. Although the recent rise of Ethereum L2 has led to a decrease in Mainnet revenue, Federico Brokate is not worried, stating that this is similar to Amazon's consecutive quarters of losses in the 1990s. He believes that Ethereum's L2 scaling strategy is attracting millions of new users at low cost, and ultimately the fees collected by L2 will become 'sufficiently large' to restore EthereumMainnet revenue to pre-Dencun upgrade levels. Further reading: VanEck: If L2 continues to 'bleed Ethereum,' it will greatly impact ETH, making it difficult to break through the target price. Related reports: Losing badly! Long ETH/BTC Whale 'Cut Lossk million dollars to repay debts' When will Ethereum rebound? UBS launches the first tokenization fund 'on-chain Ethereum', why did TradFi choose ETH? Perspective: What exactly caused Ethereum (ETH) to lose its vitality? This article was first published on BlockTempo, the most influential blockchain news media in the dynamic zone.