Samson Mow "I pity Ethereum too"...Criticizing the collapse of trust

▲ Ethereum(ETH)

Samson Mow, CEO of Jan3, known as a staunch supporter of Bitcoin (BTC), launched a strong critique against Ethereum (ETH), even using the expression “I pity it.” He claims that market trust is shaking due to a combination of institutional investment losses and ecosystem structural problems.

According to U.Today on May 25 (local time), Mow said via X (formerly Twitter), “I hate Ethereum like other Bitcoin maximalists, but now I feel sorry for it.” He claimed that the Ethereum ecosystem has recently faced large institutional losses and structural problems.

Mow particularly focused on the flow of Ethereum spot ETFs and institutional capital movements. He assessed that market performance was sluggish, contrary to expectations of institutional capital inflow, and the overall narrative of the ecosystem had weakened.

U.Today reported that Ethereum has recently faced various structural obstacles along with a weakening influence in the market. The article explained that even some Bitcoin maximalists are showing reactions close to sympathy for Ethereum, a competing chain.

On the same day, Vitalik Buterin, co-founder of Ethereum, also mentioned that his influence is gradually diminishing. Buterin stated that he envisions the Ethereum Foundation's operational structure moving towards a smaller organizational form.

In the market, concerns about the slowdown in the Ethereum ecosystem's growth, intensifying competition, and weakening institutional demand are simultaneously emerging. However, U.Today also reported that there is a perspective that Ethereum's network influence and use cases themselves have not completely disappeared in the long term.

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