Veteran trader Peter Brandt has once again voiced his staunch disapproval of Ethereum, labeling it as ‘worthless junk’ due to its complex architecture and high operating costs. Despite stabilizing at its October 2023 value amidst ongoing selling pressure from major shareholders, this recent criticism highlights the ongoing challenges facing the Ethereum ecosystem. Brandt’s views are not a new development; he has consistently expressed his skepticism about Ethereum since entering the financial market decades ago. His latest scathing critique comes after user complaints about high gas fees and usability issues prompted these comments. The network’s functionality is under scrutiny, with some users questioning its long-term viability while others remain optimistic about future improvements. Ethereum continues to experience volatile trading conditions as large institutional investors adjust their strategies, causing a significant sell-off in ETH. This has intensified market downward pressure as evidenced by a recent 20,000 ETH selling transaction from a substantial whale on Kraken exchange, contributing to the overall market instability. The Ethereum network remains under significant stress from both internal and external pressures. The ongoing struggle with functionality is causing tensions among its holders, developers, and users. While some staunch supporters believe in the long-term vision of Ethereum and future upgrades, other voices remain cautious about current operational challenges. A recent shift in institutional sentiment due to Strategy’s substantial Bitcoin purchase adds further complexity to the market dynamics, as strategic changes in the industry can potentially influence investor perception and steering capital away from specific crypto sectors.