Charles Hoskinson Predicts Ethereum’s Demise – Here’s Why He Thinks It’ll Happen

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  • The founder of Cardano believes Ethereum‘s end is nigh, within just 10-15 years.
  • He warns of parasitic Layer 2s and the looming threat of Bitcoin DeFi.

Ah, Charles Hoskinson, ever the visionary, has predicted that Ethereum shall meet its doom within the next decade. How charmingly optimistic! In a rather candid interview on X, the founder of Cardano proclaimed with all the gravitas of a fortune teller:

“I don’t think Ethereum will survive for more than 10-15 years. The L2s will continue to suckle out all the alpha, users will gradually migrate to other places, and they’re going to be eclipsed by Bitcoin DeFi.”

Ethereum’s Troubles: A Tale of Woe

Oh, where to begin? Hoskinson outlined not one, not two, but three key faults plaguing Ethereum: the wrong protocol, an ill-suited virtual machine, and a consensus model that could only be described as “self-inflicted.” How utterly tragic! The poor thing.

Yet, of course, solutions are rarely so simple, and as Hoskinson quipped, implementing these changes would be akin to watching a noble steed attempt to gallop after a rather unfortunate fall. He even ventured so far as to predict Ethereum’s fate would be like that of MySpace or BlackBerry—quite the cruel fate for such a once-promising young thing.

As though to add salt to the wound, he suggested that other contenders like Solana and Sui might steal Ethereum’s thunder. How daring of them! Let us not forget, he was once a co-founder of Ethereum before he set his sights on launching Cardano.

But the story does not end there. Some Ethereum protocol founders—those deeply invested in the cause—have shared a similarly grim outlook. Just last week, Hayden Adams, the esteemed founder of Uniswap, lauded Solana’s swift and decisive vision, remarking:

“Solana has a better roadmap, team, and approach if the plan is to do DeFi on L1/vertical scaling. Ethereum has been working towards L2-centric/horizontal scaling roadmap for 5+ years.”

Ouch! A sharp jab indeed. But wait—there’s more! Armani Ferrante, founder of the Solana-based Backpack exchange, boldly declared that Ethereum was far too late to the game when it comes to scaling L1.

“It’s way too late for Ethereum to compete at the L1 scaling game. Instead, embrace the path chosen. Build Ethereum native rollups, do them better than anyone else, and commit.”

Oh, dear Ethereum, the road ahead is looking a tad bumpy. Yet, in its defense, Ethereum has made an effort to upgrade both its L1 and L2 systems with the advent of the Pectra and Fusaka upgrades. These developments aim to boost scalability and competitiveness. Perhaps a bit of a last-ditch effort, but let us applaud the ambition.

However, not everyone is ready to throw in the towel. Avichal Garg, founder of Electric Capital, was quick to dismiss the claims of Ethereum’s demise, reminding us of Bitcoin’s own rather embarrassing 10th birthday:

“ETH turns 10 years old in July 2025. For comparison, when BTC turned 10 in Jan 2019: Price had collapsed from $20k to $4k, no institution or govt took BTC seriously, ETFs, DeFi & stables didn’t exist. It’s foolish to think ETH is done.”

And so, as the drama unfolds, Ethereum’s network activity saw a small but noticeable spike of 10% mid-week. But alas, the spot market bids have softened, and Ethereum seems to have stalled at a modest $1.8K, as investors no doubt count their profits from the 17% rally. Let’s not get too carried away with excitement, for the key support levels to watch in the near term remain at $1.6K and $1.7K. Time will tell!

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2025-04-24 22:21