Early Bitcoin developer Jeff Garzik has expressed a strong bullish stance on Ethereum, emphasizing its long-term viability in the Web3 landscape. He highlighted the crucial role of the Ethereum Virtual Machine (EVM) in attracting developers and projects, reinforcing the network's future as a core player in the crypto ecosystem. Recently, Ethereum's price surged past $3,800, reflecting a 60% increase over the month, a significant recovery after a dip in April. Amid concerns regarding Ethereum losing ground to rivals like Solana, Garzik remains optimistic, citing Ethereum's established technology and extensive use in smart contracts. He noted that many new projects currently utilize EVM technology, which he believes underpins Ethereum's sustained relevance. As institutional investments flood into Ethereum, Garzik's outlook suggests that as development and utility continue to grow, Ethereum's status is likely to solidify over the coming years, dismissing fears of competition from newer blockchains. He views Ethereum as part of the long-term future of blockchain technology, alongside Bitcoin, regardless of short-term market fluctuations.

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