Consensys founder: Remains optimistic about the long-term development of the crypto sector, ETH has stronger functional demand compared to BTC

The founder and CEO of Consensys, and co-founder of Ethereum, Joseph Lubin, recently shared his views on the current state and future trajectory of the cryptocurrency market during an interview in Hong Kong. Lubin expressed a cautiously optimistic outlook. He emphasized that the digital asset economy is continuously evolving, driven by functional utility rather than pure speculative forces.

When discussing Bitcoin, Lubin believes it should not be viewed as a traditional safe-haven asset at this stage. He described the broader crypto landscape as still resembling a "startup ecosystem," suggesting that positioning Bitcoin as a secure store of value amidst current developmental challenges may be premature. In contrast, he highlighted that Ethereum's native cryptocurrency, ETH, has stronger functional demand.

Lubin believes that the practicality of ETH in driving decentralized applications, smart contracts, and broader ecosystem activities gives it an advantage in real-world adoption compared to Bitcoin's primary narrative. He emphasized Ethereum's enduring significance in the ever-evolving financial infrastructure.

He pointed out that institutional participation is deepening, with major banks, trading platforms, and financial networks increasingly building on Ethereum-based technologies and layer two scaling solutions. He stated that this institutional momentum indicates that even amidst market fluctuations, Ethereum is transitioning towards becoming the next generation of financial infrastructure.

Overall, Lubin's remarks reflect confidence in Ethereum's long-term potential under short-term market pressures. He portrayed the ecosystem as resilient and innovative, with Ethereum and tools like MetaMask poised to drive meaningful progress in the digital economy.