Ethereum (ETH), Profits 'Stagnant' Even After 9 Years... Long-Term Holders Lament a "Lost Decade"

▲ Ethereum (ETH)

Ethereum (ETH) has been criticized for being stuck at its price level from nine years ago, reigniting the 'Lost Decade' debate among long-term holders.

According to the crypto media outlet Bitcoin.com on June 19 (local time), an anonymous trader, Pentoshi, described Ethereum as a “cursed asset.” He pointed out that Ethereum remains at a similar price to nine years ago. He also claimed that, reflecting inflation, it is approximately 14% lower than its 2017 peak.

According to the article, Ethereum traded just below $1,700. Compared to its all-time high of $4,946 recorded in August 2025, it is approximately 65% lower. It has also fallen by about 44% this year. The fact that its decline was steeper than Bitcoin (BTC) during the same period further fueled bearish sentiment.

Pentoshi's argument directly targeted Ethereum's long-term price trend. Ethereum approached $1,400 at the peak of the bull market in early 2018. Even now, more than eight years later, it has not significantly moved beyond that range in nominal terms. The logic is that long-term investment performance has worsened further when considering the decline in the dollar's purchasing power.

Critics believe that years of upgrades have not led to an increase in holder value. Bitcoin.com reported that Ethereum has recently struggled to maintain the $2,000 level. The Ethereum Foundation is also reportedly facing pressure over staff departures and funding issues for core development.

However, bullish sentiment has not completely disappeared. Standard Chartered maintained its long-term target price of $40,000. The bank viewed Ethereum's weakness not as a permanent loss of competitiveness but as an effect of funds moving to competing chains. Supporters emphasize that decentralized finance activities, stablecoin payments, and tokenized products still operate on Ethereum.

Bitcoin.com assessed that while Ethereum appears to be a plummeting asset when compared to its 2025 peak, it is still a high-yield asset representative of its era when compared to its launch price of approximately $0.31 in 2015. Ultimately, Pentoshi's criticism is an aggressive framework based on the 2017 and 2018 peaks. The next evaluation of the Ethereum market will depend on whether price recovery and increased network utility move in the same direction.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*