Matt Hougan, chief information officer at Bitwise, said that ETH now appears to be deserted, but as the year draws to a close, its underperformance in price could be reversed. The report argues that ETH's recent underperformance stems from risks associated with the US Presidential Election in November, increased competition from Solana and other blockchains, challenges in token economics, and mixed reactions to the launch of spot trading platform exchange-traded funds (ETFs) in the United States. Hougan pointed out that with the November election approaching and regulatory clarity, the market may reassess Ethereum. For now, Ethereum appears to be a potential contrarian investment option by the end of the year. (The Block)