Ethereum (CRYPTO: ETH) investors might never see the 2025 bull market gains that saw the world’s leading blockchain actually beat Bitcoin (CRYPTO: BTC) for once. Those days look to be over. It’s having an identity crisis. Is it merely a Web3 infrastructure giant? Or is it dead money for investors?
As we approach the middle of 2026, Ethereum is down over 22%. Investors have taken a lot of money off the table following last fall’s bull run. At the moment, Ethereum looks extremely “boring.”
Some crypto traders are predicting Ethereum falls another $1,000. As of this writing, ETH was valued at $2,300.
Research from Glassnode wrote in their Strategy Watch report dated April 23 that institutional flows into ETH have been weak all year. Recent commentary from the crypto crowd stresses that ETH’s price today is only driven by investor mood for Bitcoin. Bigger investor trends are still buying the AI bubble on Wall Street, rather than chasing value in the cryptocurrency markets.
“We can say the same about Bitcoin these days,” said Ivo Georgiev, CEO & Founder of Ambire, a self-custodial Web3 wallet. “Ethereum’s value is in actual real-world adoption. It’s the only chain where there’s actual DeFi with actual usage.”
Stablecoins and DeFi Keep Ethereum Relevant
Bitcoin and Ethereum both saw net outflows all of …
This post was originally published here
