Bitwise CIO Matt Hougan said that ETH seems to be on the shelf now, but its poor price performance may be reversed as the year draws to a close. The report believes that ETH's recent poor performance stems from risks related to the November US presidential election, increased competition from Solana and other blockchains, challenges facing token economics, and mixed reactions to the launch of spot trading platform exchange-traded funds (ETFs) in the United States. Hougan pointed out that the market may re-evaluate Ethereum as the November election approaches and regulation becomes clearer. At present, Ethereum seems to be a potential contrarian investment option by the end of this year. (The Block)