Galaxy Digital Founder: Market Sentiment for Ether “Extremely Pessimistic”
Gold Finance reports that Mike Novogratz, founder and CEO of Galaxy Digital, believes that Ether has failed to keep pace with other cryptocurrencies such as Bitcoin and Solana, Novogratz said in an interview, “Market sentiment for Ether is extremely pessimistic. I think the biggest reason for that is Gensler's vague definition of ETH, and he sued Consensys, is ETH a security or not? So there's been some regulatory pressure on Ether.” Discussing the investment narrative of Ether and how it differs from Bitcoin, Novogratz said that Bitcoin has attracted increasing media attention since President Donald Trump spoke at the Bitcoin 2024 conference last summer. He said, “Most of the market capitalization of ethereum right now is a store of value, but what's keeping people focused on it is the web3 story, and the reality of all crypto ecosystems is that stories bring enthusiasm, and enthusiasm creates value.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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