Jeff Garzik, an early Bitcoin developer, expresses a positive outlook on Ethereum, believing in its long-term viability due to its technological advantages, specifically the Ethereum Virtual Machine (EVM). Ethereum's price has recently surged past $3,800, gaining roughly 60% over the past month, igniting discussions about the sustainability of this rally. Garzik noted that Ethereum's user base and technological framework remain robust, countering concerns about emerging competitors like Solana. He emphasizes that the EVM is widely adopted across many blockchains, which underlines Ethereum’s influence and necessity in the ecosystem. Despite recent fluctuations, including a low point in April, the recent surge in institutional investments and the launch of treasury companies accumulating ETH indicate renewed investor confidence. Garzik reframes the competition narrative, asserting that while newer blockchain technologies surface, none match Ethereum's proven track record and market stability over the long haul, suggesting Ethereum will remain a cornerstone in blockchain technology for years to come.

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