Despite the launch of the Spot Ethereum ETFs, the $ETH price has continued to seriously underperform Bitcoin, as well as many of the large cap altcoins. Is this about to change?
Ethereum still the dominant layer 1 for smart contracts
Ethereum (ETH) was a poster child of the last bull market. It’s the number 2 cryptocurrency by market cap, and the heir apparent to become the foremost layer 1 blockchain for the majority of future dApps.
However, changing from proof-of-work to proof-of-stake consensus, the inability to accomplish the necessary scaling and speed, and the rise of its major competitor in Solana, have meant that the Ethereum journey has been fraught with difficulties.
All this said, Ethereum is still very much the dominant layer 1 for smart contracts, it still has a preponderance of developers, and the $ETH price surely cannot continue to wane against the other major cryptocurrencies.
$ETH bounces from critical support
Source: TradingView
Friday is looking posi
We współpracy z: https://cryptodaily.co.uk/2024/08/can-ethereum-eth-finally-start-outperforming-bitcoin-btc
