CoinShares’ Meltem Demirors Highlights Challenges in Ethereum’s Narrative as Rival Layer-1 Blockchains Gain Traction
Meltem Demirors, the chief strategy officer of CoinShares, emphasizes that Ethereum’s narrative has faced difficulties with the emergence of alternative layer-1 blockchains. In an interview on the Crypto Banter YouTube channel, Demirors explains that newcomers to the crypto space tend to choose Bitcoin as their entry point due to its simpler narrative.
Demirors acknowledges Ethereum’s complex scaling roadmap and believes that its narrative has struggled compared to Bitcoin’s strong narrative as “digital gold” or “money backed by physics.” She questions whether Ethereum can maintain its market share as more layer-1 blockchains with faster, cheaper, and more user-friendly experiences emerge.
While Demirors recognizes the strength of the Ethereum community, she notes that it lacks the same brand loyalty displayed by Bitcoin maximalists. Without a strong sense of narrative loyalty, Demirors questions whether Ethereum can preserve mindshare and market share in the long run.
Ethereum’s Position in the Market
At the time of writing, Ethereum is trading at $2,766, experiencing a slight decrease in the last 24 hours.
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