Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Is Ethereum Finished? Expert Says ‘No Hope Left’ For Ether Anymore

Share This Post

For years, Ethereum has established itself as the second-best competitor to Bitcoin regarding technology, innovation, and use cases. If many consider Bitcoin as ‘digital gold,’ Ethereum would be ‘digital silver.’ However, just like Bitcoin, Ethereum has been the subject of many criticisms and attacks, and many have claimed that its popularity will end. The latest is Justin Bon’s post on Twitter/X, which says that Ethereum “is cooked.”

Cyber Capital’s founder and CIO, Justin Bons, has ignited lively debates on social media with his views on Ethereum’s future, the role of Layer 2 venture funding, and token dynamics. His outspoken critiques on issues like self-interest and centralization have sparked questions about Ethereum’s long-term reputation.

Bons’ take on Ethereum on Twitter/X was met with dozens of comments from crypto enthusiasts, some supporting his side and others challenging his take.

Ethereum Is Now ‘Irrelevant,’ Claims Bons

In a Twitter/X thread, Bons offers several reasons why the Ethereum blockchain is “cooked” and going down the path of irrelevance. He stated that the primary reason for its downfall is self-interest, which prioritizes the development of Layer 2 (L2) chains instead of scaling its base layer (L1).

Bons further shared that Ethereum started as a beautiful blockchain, but recent developments may push it to oblivion. He specifically highlighted the chain’s L2s, which he said can censor, steal, and freeze users’ funds. According to Bons, these L2s are fragmented and centralized, which impacts the users’ experience, making the Solana blockchain a better option.

Uniswap Moving To Unichain

Ethereum is also facing another crucial problem, with Uniswap, as it migrates to its own blockchain, the “Unichain.” Last October 10th, UniSwap Labs, UniSwap’s parent company, announced that it will launch its blockchain. This newest blockchain or rollup is built on the Ethereum blockchain and intends to share its revenues with users who stake their UNI tokens.

Ethereum is expected to lose a substantial revenue stream with this new arrangement. Traditionally, the bulk of Uniswap’s revenues from fees are collected by ETH holders. According to Michael Nadeau, Uniswap earned around $1.3 billion from settlement and trading fees across five blockchains.

However, Uniswap and its token holders earned “zero” from this revenue. Instead, Ethereum validators were paid over $368 million for posting ETH to secure the blockchain. With the launch of Unichain, Uniswap will capture this value and filter it to its token holders.

Ethereum Gets Community Support

Bons’ tirades may have attracted a few supporters, but many users on Twitter/X defended the Ethereum blockchain. For example, AdrianoFeria.eth hit Bons for living in a different universe. He defended the Ethereum blockchain, arguing that L2 chains can’t be bearish on ETH L1 but should be for all L1s.

He added that Solana isn’t the fastest-growing chain and continued that Ethereum is still thriving thanks to institutional partnerships. Others commented that Bons is biased and will always take a hostile approach to crypto.

Some insiders say that Uniswap’s announcement makes predicting what will happen next tricky. According to Sasha Ivanov of Waves, the migration will not be completed by at least year-end. If it happens, the effect depends on whether Uniswap will bridge to the Ethereum blockchain or other smart contract-ready chains.

Featured image from Token Metrics, chart from TradingView

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

ZachXBT tracks $330M Bitcoin stolen in social engineering scam from elderly American

Blockchain sleuth ZachXBT revealed that the victim of the recent theft of $330 million in Bitcoin (BTC) was an elderly American citizen who was targeted by a social engineering attack The exploit

Semler Scientific Adds 165 BTC, Now Holds Over $330 Million in Bitcoin

Semler Scientific has increased its bitcoin holdings to 3,467 BTC following a $157 million purchase of 165 BTC, achieving a 238% year-to-date yield on its bitcoin treasury strategy Bitcoin Bet Pays

Bitcoin Raging Bull Indicator Turns Back On, But This Level Holds The Key

Bitcoin continues to show signs of resilience at the $95,000 region, pushing higher from recent lows and attempting to reclaim its bullish structure after a volatile April The monthly candlestick for

Bitcoin Dips Slightly as US Economy Shrinks

The US economy shrank by 03% in the first quarter of 2025 after companies rushed to import goods in the wake of President Donald Trump’s global trade war Bitcoin Edges Lower After US Economy Shows

Malaysia Launches Blockchain Infrastructure to Enhance Digital Services and Accessibility

On April 30, 2025, Malaysia launched the Malaysia Blockchain Infrastructure (MBI), a step in its digital transformation journey aimed at unifying fragmented digital ecosystems and making

Litecoin, Solana, XRP Among Top Crypto ETFs Set for 2025 Approval

The post Litecoin, Solana, XRP Among Top Crypto ETFs Set for 2025 Approval appeared first on Coinpedia Fintech News In a recent update, Bloomberg’s Senior ETF Analyst Eric Balchunas shared fresh