Fascinating to see Eth slowly collapse, with only the truest of believers remaining faithful, and the rest of those chasing the "next hot thing" moving from Eth to Sol / BTC.
As a BTC maxi, (other than some really minor alt dabbling), I have seen shxxtcoiners come and go, and each cycle lessons are learned. And still each cycles, new shxxtcoiners emerge.
To me it sees clear, that BTC has won the global store of wealth / defence against declining fiat narrative. So, that leaves ETH (once touted as an "alt" to BTC's core function, with that battle totally lost, and battling and infinite number of "better than ETH-alts". BTC is finite, yet these "better than ETH-alts" are infinite. And reality is, very few of those types of "investors" really care about technical aspects. They simply are chasing a quick gain.
Who wins most out of this? BTC.
I have challenged shxxtcoiners in the past to prove that they can outperform BTC. They all claim they can. But very few actually do in the long run.
United with BTC we succeed. And divided with (infinite) shxxtcoins the shxxtcoiners fail.
It is very interesting to see the cyclical nature of the cryptocurrency market. Every new investor brings new enthusiasm. Here are the latest trending altcoins. Ethereum's current challenges and the shift of some investors to Solana and Bitcoin reflect this ongoing shift. As a Bitcoin maximalist, I can understand the appeal of BTC's role as a powerful store of value and hedge against the decline of fiat currencies and the limited availability and established infrastructure of Bitcoin provide a sense of security that many altcoins, with their limitless options and rapid volatility, struggle to match.
Ethereum, one of the most promising alternatives to Bitcoin, is nowadays crowded by so-called 'ETH killers'. Still, in its own right, it has to be noted that Ethereum is proud for its strong developer community and wide range of applications, especially smart contracts and distributed applications. While these do not necessarily go against the original Bitcoin narrative, they provide unique value propositions that can actually sustain the important role of Ethereum in the blockchain ecosystem. For me, sustainability and showing long-term value beyond speculation are the actual challenges for altcoins. Many altcoins promise to give high returns. Very few can outperform bitcoin in the long term. This reinforces the notion that the reason why bitcoin's enduring appeal cannot depend only on its potential short-term profits but also includes basic principles and flexibility.