Is Ethereum Dead or Just Underperforming?
While some people believe that Ethereum is dead due to its underperformance compared to Bitcoin, others argue that the ETH bull run has yet to begin.
Ethereum Trades at 18-Month Low Compared to Bitcoin
Ethereum has seen a 45% increase from its October 2023 lows, while Bitcoin has surged by nearly 65% in the same period. Ethereum’s competitor Solana has experienced a skyrocketing growth of over 310% in just two months.
Strong Fundamentals
Despite its underperformance, Ethereum has strong fundamentals. It has a total value locked (TVL) of $26.45 billion and accounts for 52% of the total TVL across all other chains. Additionally, Ethereum generates more revenue than both Avalanche and Solana combined.
The Ethereum Bull Run Is Yet to Begin
Ethereum enthusiasts believe that the bull run for Ethereum has yet to start. The cryptocurrency is still highly valued with a market cap of $260 billion, comparable to Bank of America. Many fund managers have also filed for a spot Ethereum ETF.
Hot Take: Ethereum’s Future Looks Promising
Although Ethereum is currently underperforming compared to Bitcoin and facing criticism from some community members, it is far from dead. With strong fundamentals and potential for future growth, Ethereum still holds promise in the crypto market.
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