Ethereum

Solana

Arbitrum

Bitcoin

<a href="https://yellow.com/asset/eth">Ethereum</a>'s rival base-layer blockchain cryptocurrencies have outperformed ETH amidst the U.S. election rally. Optimized for smart contracts and open-source currency, these altcoins have surged ahead. <a href="https://yellow.com/asset/btc">Bitcoin</a> also outpaced Ethereum in this market movement, marking a notable trend in October and November. Despite Ethereum's notable $3,450 peak, skepticism looms over its ability to reach the coveted $4,000 threshold as this crypto macrocycle peaks. Concerns over Ethereum's mutable codebase and complex architecture have sparked bearish sentiments regarding its fundamentals. 
The price movements tell the story. From October 23 to November 22, Bitcoin soared by 47%. Meanwhile, <a href="https://yellow.com/asset/sui">Sui Coin</a> achieved a remarkable 74% uptick, <a href="https://yellow.com/asset/sol">Solana</a> saw a 56% rise, and <a href="https://yellow.com/asset/dot">Polkadot</a> increased by 44%, as per TradingView data. In contrast, Ether lagged, recording only a 25% gain during the same period. Analysts vocalize concerns over DeFi transactions migrating to Ethereum Layer-2s, which may hamper ETH's price momentum and its deflationary status. 
Peter Brandt, a legendary commodities and forex trader, notes that the ETH/BTC ratio has reached a historical inflection point. This cyclical low in the ratio could mean a potential upswing for Ethereum against Bitcoin. Such conditions could herald market recovery for ETH as we transition into 2025. Bulls are watching. 
Expectations are still optimistic. Crypto chart analyst, Ali Martinez, suggests Ether may soon eclipse Bitcoin again in value growth within this macro cycle. With a bullish projection of a $6,000 peak price, Martinez considers $4,000 a near certainty for Ethereum. Institutional investment trends signal increased interest, with spot ETFs showcasing significant inflows. 
Ethereum's decentralized application volume is on the rise. For example, during the period ending November 20, Ethereum commanded $150 billion in DApp transactions, far outmatching <a href="https://yellow.com/asset/arb">Arbitrum</a> and <a href="https://yellow.com/asset/bnb">Binance Coin</a>. Additionally, institutional interest in Ethereum remains robust; staking activities continue, signaling strong conviction in Ethereum's long-term growth prospects. 
Institutional investors demonstrate this confidence not only by holding Ether but by locking it into staking contracts, further securing network yields. Data shows an impressive 30% growth in Ethereum stakers over a year, surpassing a million by June. 
Despite being outperformed by Solana and other alternatives during this period, Ethereum's robust market cap underscores the challenge of influencing its ecosystem. The performance of Ethereum's top-three meme coins during the same rally provides a significant insight into its competitive edge against Solana. Ethereum's ROI of 220% surpasses Solana's 200%, reflecting the difficulty of swaying such a substantial market economy. Institutional backing remains a pillar, highlighted by the rise in Ethereum futures volume on the CBOE. 
Ethereum remains a significant player amidst these competitive market dynamics. While Bitcoin and other altcoins boast substantial gains, Ethereum's strong foundations and institutional support forecast a promising future. Stakeholders and investors closely monitor these developments as the crypto ecosystem gears up for further growth and innovation, with ETH's $4,000 potential still within the realm of possibility.

Ethereum Killers Are Rallying: Why Is ETH Lagging Behind?

Yellow News

Other articles published on Nov 25, 2024

Bitwise Joins Race for Solana ETF Amid Growing Interest in Crypto ETFs

ZA Bank Partners HashKey, Launches Retail Crypto Trading

Discover How to Acquire SYN Coin Easily

Bitcoin expected to stall until next year as market focus turns to Ethereum

Is It Too Late to Invest in Luckycoin? The Altcoin That Soared 3700% in Just One Month

VanEck Expands Crypto Product Portfolio with New SUI ETN for European Investors

Join our free newsletter for daily crypto updates!