Ethereum has been lagging behind other cryptocurrencies lately. While Bitcoin hit new highs in March, Ethereum struggled to break $4,000. Since then, it’s dropped almost 40% and some people are worried it could fall even further.
Don’t Blame Ethereum or Its Leaders
One analyst on X thinks Ethereum’s poor performance isn’t due to the network itself or its leadership. They believe uninformed investors are to blame. While it’s true that Vitalik Buterin and the Ethereum Foundation have been selling some of their ETH, they’ve also been focusing on improving the network.
Ethereum: A Better Store of Value than Bitcoin?
This analyst argues that Ethereum’s true potential lies in becoming a better store of value than gold. They believe Ethereum and Bitcoin are competitors, both vying for dominance. While Bitcoin is currently the most valuable, Ethereum is the most active smart contracts platform, offering more versatility and features.
To become a stronger store of value, Ethereum needs to improve its supply dynamics and focus more on finance. This would attract more investors and developers, boosting its value.
Ethereum’s Future is Bright
Despite its recent struggles, Ethereum is still growing strong. The network is becoming more deflationary, its roll-up ecosystem is expanding, and its mainnet is scaling. All of this points to a brighter future for Ethereum, with the potential for higher valuations in the long run.
