Jeff Garzik, an early Bitcoin developer, expressed a positive long-term outlook on Ethereum, highlighting its integral role in the Web3 space, particularly due to the widespread use of the Ethereum Virtual Machine (EVM). Ethereum's price recently surged past $3,800, reflecting a 60% increase over the past month, signaling a potential new bullish phase for ETH. Despite a significant downturn earlier this year, Ethereum's situation has improved, bolstered by substantial institutional investments and record inflows into Ethereum ETFs. Garzik believes that the technological advancements and utility of Ethereum's ecosystem will secure its position in the future, irrespective of competition from other blockchains like Solana or Aptos, which he considers lacking the same market presence. He emphasized the importance of technological legacy over current price trends, asserting that Ethereum and Bitcoin will likely remain dominant for decades to come, primarily because they are the default choices for smart contract development in the blockchain arena.

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