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.
The story of Solana is very hot and many people nearly lost all of their fund with Solana. It has an amazing come back while in history of cryptocurrency market, many top altcoins died or lost their positions with time and could not get high positions in this market back.
Cryptocurrency historical data snapshot.If you don't want to invest or store your wealth in Bitcoin, you can find the best altcoin, it's Ethereum. Solana is very risky choice in my opinion and if you get profit with Solana in this market cycle, in 2024 and 2025, I congratulate you but make sure you won't hold this altcoin in 2026 and 2027 when we will very possibly have other terrible bearish years.
I think you’re right it think Solana is devaluing ETH because of this trade off and I have even thought about it myself but I don’t think that ETH is over or done for by any means. It’s so engrained in so much and I just don’t see it ever being completely abandoned. SOL though is emerging and for now might be a good play in the short term but long term I think I am more set on ETH
The altcoin market is very competitive and hard to predict anything, ETH may be king for a long time but it is not irreplaceable but I think Solana is not a candidate to replace ETH. Look at the Solana chain, other than the development of Memecoin to attract cash flow, nothing is outstanding.
ETH is quite stagnant and Sol is emerging as a star but if we pay attention, the altcoin market relies on the performance of the ETH/BTC pair to decide the trend. The altcoin market remains stagnant as ETH fails to break out but things are looking better as ETH has broken above $3k. I believe this is a good sign for altcoins in the coming time and once again it proves that ETH is still the king of altcoins.
Me too, I still appreciate and believe in ETH more than solana. What will be the future of solana after this cycle when they have nothing but memecoin?