Bitwise CEO: Ethereum’s Rival Is Web2, Not Bitcoin

Bitget App

Trade smarter

Coinomedia2025/07/14 08:45

By:Aurelien SageAurelien Sage

Bitwise CEO says Ethereum’s real battle is with Web2 and legacy finance, not Bitcoin.Leaving the CoinMarketCap Era BehindThe Future Is Use Case-Driven

Bitwise CEO says Ethereum competes with Web2, not Bitcoin
Ethereum’s role is evolving beyond crypto rankings
Future lies in blockchain use-case differentiation

Bitwise CEO Hunter Horsley has offered a fresh take on Ethereum ’s place in the crypto world. In his view, Ethereum isn’t locked in a race against Bitcoin . Instead, it’s in direct competition with Web2 platforms and legacy financial services.

This shift in perspective moves Ethereum away from being “Bitcoin’s runner-up” and positions it as a challenger to systems like PayPal, Google Cloud, and Wall Street infrastructure. While Bitcoin remains focused on being digital gold, Ethereum is building the foundation for decentralized apps, finance, and digital identity.

Ethereum’s real mission? Replacing or improving the services currently run by centralized tech and finance giants.

Leaving the CoinMarketCap Era Behind

Horsley also believes the crypto industry is growing out of the “CoinMarketCap era,” where success was measured mostly by price rankings. According to him, this outdated model doesn’t reflect what modern blockchains actually do.

Ethereum, for example, is increasingly seen as a tool for creating real-world applications. From NFT marketplaces to DeFi platforms, it offers developers a flexible base to build on — something Bitcoin doesn’t aim to do.

The focus is shifting from token price to utility. That means blockchains will be evaluated based on what they enable, not how high they sit on a chart.

The Future Is Use Case-Driven

As crypto matures, it’s becoming clearer that each blockchain serves different needs. Horsley’s message is that Ethereum shouldn’t be judged on the same criteria as Bitcoin. It has a different goal: to offer a decentralized alternative to Web2 tech and financial systems.

Whether it’s powering decentralized exchanges or supporting Web3 social networks, Ethereum is leading the charge in turning the internet into something more open, secure, and user-controlled.

Read Also :

Dating Apps Used to Steal $369M in Crypto Fraud
BTC Bulls Take Charge as Net Longs Near $100M
Bitwise CEO: Ethereum’s Rival Is Web2, Not Bitcoin
Bitcoin Dominance Break Signals Start of Altseason
$PENGU Surges After Coinbase Sparks Meme Craze

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.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

As markets begin pricing in expectations of rate cuts, on-chain trading volume continues to grow. Pump.fun is preparing to launch its token, while Letsbonk.fun is gaining momentum. For the first time last week, its number of daily token launches and "graduated" projects surpassed Pump.fun, ending Pump.fun's dominance in the memecoin launchpad space since early 2024. The wealth effect generated by Letsbonk.fun's ecosystem has also been significant. Meanwhile, the growing maturity of hybrid "spot + on-chain" products on major centralized exchanges (CEXs) is helping build strong momentum for on-chain market activity. Since the memecoin craze driven by celebrities and political figures earlier this year, market liquidity has gradually recovered from near-dry conditions. The upcoming token launch on Pump.fun may spark renewed ecosystem-level competition among launchpad platforms, generating sustained speculative momentum that continues to benefit the broader Solana ecosystem.

Bitget VIP•2025/07/14 11:35