When it comes to sharing unfiltered thoughts on cryptocurrency, there aren’t many people who can do it without sparking a major debate. But Peter Brandt, the legendary financial market trader who’s been in the game since the 1970s, is definitely one of those voices that carries weight.

Think about it: after nearly 50 years of navigating the financial rollercoaster – witnessing crashes, booms, crises, scams, Ponzi schemes, and the rise of giants like Apple and Nvidia – Brandt’s views definitely carry serious clout.

And guess what? Peter Brandt is not a fan of Ethereum (ETH), a leading cryptocurrency in the market.

Why? Well, back in November, Brandt himself explained that Ethereum’s complexity and the cost of using it are “world-class terrible.” In his view, this makes ETH a fundamentally flawed utility token.

Just recently, he doubled down on this. Responding to a post discussing the ongoing “gas” fee problems within the Ethereum network, Brandt simply declared that ETH is “worthless junk.”

Talk about a strong opinion on a $200 billion asset, delivered in just two words! It’s going to be interesting to see how this statement plays out, especially since opinions on Ethereum, the biggest altcoin, are already incredibly divided.

Related

With Ethereum’s price stuck around where it was in October 2023, and some organizational changes happening behind the scenes, it feels like Ethereum is facing a real test right now.

You’ve got the holders frustrated by the stagnant price, a large chunk of the crypto community critical of the technology itself, and then the loyal believers who are sticking with Ethereum no matter what.

Related

So, will Ethereum weather this storm? That’s the big question and the real trial by fire right now.