My point of view, read it, it may help you in this course
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A lot of people have called ethereum dead this cycle.
While it has been lagging to some extent, I wouldn't count out #ETH just yet.
There are a few easy to explain reasons why it hasn't surged yet.
And also why it still will:
1ïžâŁ Altseason hasn't happen yet
Ethereum is still the king of DeFi.
The majority of all altcoins in this entire industry are built on Ethereum.
If alts receive more attention again, so does ethereum.
Why? Ether is the most traded and NEEDED currency when altseason is into place.
It's the same reason why ethereum and altseason move so much in sync with each other.
We've had some resurgence in alts in Q1 this year and Ethereum did great!
But if we are still getting a big wave? Then so will ETH.
2ïžâŁ All eyes still on Bitcoin
Bitcoin has still been leading this cycle.
Bitcoin dominance remains high and most Institutional money has flown here.
If the shift happens, Ethereum is first to follow.
3ïžâŁ Grayscale outflows
Just like what we saw with Bitcoin, the amount of outflows from Grayscale are significant after the launch of the ETF
Once these come to an end? Inflows take over and take control of the race again.
4ïžâŁ Technically good
As shown in the chart down below? Ethereum actually isn't in a bad place.
Touching a long running support zone that can be seen as an ideal reentry spot for many.
Both for us but also an attractive price entry for institutions as well.
As you can see I wouldn't count out Ethereum just yet this cycle đ
