On March 25th, according to the Financial Times, Geoff Kendrick, head of digital asset research at Standard Chartered Bank, said that Ethereum is in a midlife crisis, still groping forward in technical upgrades to enhance its appeal to a wider audience. Over the past three months, the price of ETH has fallen by 40%, including tokens promoted by Trump and Argentine leader Mile using the Solana blockchain.

Kaiko research analyst Adam McCarthy believes that Ethereum is not interesting to most people. If compared to Bitcoin, Bitcoin has already established the narrative of digital gold, while Ethereum has failed in its native field, and the flow of ETFs also shows that it lacks broad appeal.