Consensys CEO: Competition Fueled Ethereum’s Pivot to DeFi Dominance

Ethereum’s CEO, Joseph Lubin, has revealed that intense competition from Bitcoin and Solana propelled the ecosystem to prioritize and accelerate its development in decentralized finance (DeFi). In a recent social media post on X, Lubin claimed this pressure forced Ethereum to re-focus and drive forward with renewed energy. He described it as an ‘awakening’ for the massive Ethereum ecosystem, pushing them to achieve unprecedented growth and momentum.