• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
Ethereum

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

Christian Encila
by Christian Encila
10 months ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

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.”

Related Reading: Hong Kong Makes History With Asia’s 1st EU-Regulated Crypto Index Launch

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.

1/9) Ethereum is cooked

Corrupted by L2 VC funding & tokens, nobody is scaling ETH’s L1 anymore; they will not allow it!

That is why there is no hope left for ETH anymore

Following the bitcoiners into irrelevance with quasi-religious word salads justifying their mediocrity: 🧵

— Justin Bons (@Justin_Bons) October 28, 2024

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.

Ether market cap currently at $314 billion. Chart: TradingView.com

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.

Ether price down in the last week. Source: CoinGecko

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.

If you think L2s are bearish for $ETH, then you should at least recognize that they are mega bearish for alt L1s.

At least L2s will have to pay for blobs once targets are reached, and they are all using $ETH as their primary onchain currency.

L2s are also the fastest growing…

— AdrianoFeria.eth 🦇🔊 🛡️ (@AdrianoFeria) October 28, 2024

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.

Related Reading: Gensler Called ‘Worst Public Servant’ In Scathing Remarks By Ripple Co-Founder

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

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

Crypto

Crypto Boom Soon? Major Banks Predict At Least 2 Rate Cuts After Weak Labor Data

1 hour ago
Trump Media

Trump Media Invest $105M In CRO Following Crypto.Com Treasury Agreement

2 hours ago
MARA Bitcoin holdings near $6b Bitcoin Hyper gains

MARA’s Bitcoin Treasury Nears $6B After Mining 705 $BTC in August, Fueling Bitcoin Hyper’s $14M Presale

5 hours ago
SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

5 hours ago
XRP

XRP In The Skies: Air China May Let Millions Pay With Crypto

7 hours ago
Best Altcoins to Buy as Ethereum Outflows Signal Renewed Accumulation

Best Altcoins to Buy as Ethereum Outflows Signal Renewed Accumulation

6 hours ago

Premium Sponsors

Press Releases

  • Cloud Mining

    From Holding to Profit: How XRP Earns $27,000 Daily from...

    7 minutes ago
  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    21 hours ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    21 hours ago
  • miner

    Cardano (ADA) Market Outlook: Long-term Potential Passive...

    21 hours ago
  • etnminer

    How to Play to Earn Crypto in 2025: Discover 6 Most...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.