Bitwise CEO: Ethereum's true competitors are Web2 and traditional finance, not Bitcoin

According to BlockBeats, on July 14th, Hunter Horsley, CEO of Bitwise, stated that "Ethereum is not competing with Bitcoin, its real competitors are Web 2.0 and traditional financial services software. In the next 6 to 12 months, the cryptocurrency market will emerge from the 'CoinMarketCap era', which is the view that each cryptocurrency asset only has a different market value and everything else is the same. We will begin to realize that opportunities between different blockchains are diverse, just as "applications on iPhone" may have similar underlying technologies, but their uses and commercial potential are vastly different