This continuous quarrel about ETH makes me think deeply about it. There are, not sure but I think, over 6000 cryptocurrencies over there and the significant part of them ERC token. This means there is a strong base coming from ETH. However, these projects create a dumping point for the ETH since their ICOs and sales are making with ETH. Is this going to be a strong ground but lower price vicious circle situation? Will there be a chance for ETH to rise beyond its ATH?
I personally don't think any token or coin will replace ETH soon but... There is a strong but here.
Yes, many projects are affected but it will not last long. Once POS is completely implemented in the Ethereum blockchain, the recovery shall start. The new protocol will also benefit the existing projects on the Ethereum blockchain and especially the Ethereum based tokens. Also, I foresee that there will be more projects in the Ethereum blockchain once Ethereum Casper is implemented because of the better scalability.