According to CoinShares CSO Meltem Demirors, the narrative surrounding Ethereum has been hindered by the emergence of alternative layer-1 blockchains, making it less likely for crypto newcomers to choose Ethereum as their entry point into the digital asset ecosystem. Demirors believes that Ethereum's complicated scaling roadmap and lack of a strong narrative may be contributing factors. While the Ethereum community is strong, it lacks the die-hard brand loyalty displayed by Bitcoin maximalists. Demirors questions whether Ethereum can maintain market share as more layer-1 blockchains with faster, cheaper, and more intuitive user experiences emerge.