Ether at 4k... Guess What? Not Dead!
It was maybe a month ago when "crypto twitter" almost declared Ethereum dead and wanted to bury it.
Ethereum has its faults, mainly due to high fees and maybe the speed of transactions, and if we dig deeper due to insufficient stake decentralization, but it's not going anywhere, in my opinion. And I had the same impression when people were calling for its demise, and its place being taken by one of the many "Ethereum killers" that have been created over time. It wasn't just an impression, I also purchased some.
If any of the new blockchains that try to take down Ethereum have something more for themselves than lower fees and quick transactions, they may be able to carve a market of their own, and some did, but I still think Ethereum is pretty well-entrenched in its market, and they will continue to be a solid blockchain and ecosystem. Will they continue to be #2 à la longue? Hard to say, because things in crypto change very quickly. Maybe that's why some always come out with these "Ethereum killers" theories... At some point it might even happen. But for the time being, it's more of a marketing trick for the "Ethereum killers", to make them seem bigger if they "fight" the biggest potential "adversary" in their category.
Right now, ETH is like BTC, against a major psychological threshold, at 4k. Both of them pushed over their respective thresholds, but now are fighting for them again. And both of them will go higher again during this bull market.
The calls for Ethereum's death also came on the background of its price action between the high in March and the lows during the summer and beginning of fall, as you can see on the chart above too. But who has paid attention to previous cycles remembers ETH joins the party late, and soon after it does, it gives the signal for the beginning of the alt season. And guess what? That's what happened this year too.
So, I like the prospect ETH has until the bull market end... Will it grow faster than other alts? Well, it depends on the alt. Some may have been close to their ATH, while ETH was at half its ATH one month ago. Of course, if we compare it to HIVE, our coin has a much higher growth potential.
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I think ETH has a lot of faults but I still think it can do well. There were a lot of ETH killers and they never did kill off ETH. Even the switch to 2.0 didn't kill it. I just don't know too much because i don't follow it much. I think Hive has more higher growth potential as well.
Curiously... although I see Ethereum sticking around and bringing value (especially through the development and innovation going on over there), I don't use that chain directly. It is a chain for the whales (more or less), but there are L2s that can be used instead at much lower fees. Overall, L2s are part of Ethereum's ecosystem too.
The ETH price fell far short of expectations. If there had been a price increase in line with BTC, it would have been around $7-8,000. Obviously, there are technical, unresolved issues in Ethereum. The fact that the ETH price has not increased enough also hinders the ERC20 token price.
We still have 2025, don't we? I didn't expect ETH to keep up with BTC while the latter has been highly dominant, but things have changed, and BTC dominance started to reduce. I expect ETH to outgrow BTC until the end of the bull market.
Ether like most alt joined late, infact ether going up is like saying "watch out, it seems it's alt season"
Perhaps at one time, we'd see a proper Ethereum killer, but at the moment all we have is wannabes that wouldn't really come up with a proper product aside from less fees.
I have the same opinion. Ethereum usually signals the beginning of the alt season. As for its killers, they generally lack substance, although some evolved over time from their initial proposal which was mostly oriented on lower fees.
Hahahaha. It's interesting how people look to the price to determine if a project is good or not. I guess over the years, SOL was the only one "Ethereum killer" that emerged from the rest in the list.
Maybe... I'm not really convinced about Solana. Too much centralization. But it gets the attention, and there's a lot of money over there.