📉 How long can ETH's "tech faith" hold up?
In the 2021 bull run, ETH hit new highs, and DeFi summer birthed hundreds of 100x gems.
In 2024–2025, SOL and BNB are set to break new highs, with meme coins in a bull market that you can hardly count on both hands.
But what about the ETH chain? It's still clinging to the idea that "technology will change the world," without reaching its previous highs in this bull market.
Technology is the moat, but other chains have filled that moat.
· Solana thrives on low fees and high speed + meme season, with TVL doubling and user base doubling
· BNB Chain maintains its second-place throne with continuous empowerment + ecosystem funds
· X Layer is still in early days, but the Onchain OS + AI Agent narrative is already unfolding
ETH's L2 liquidity is fragmented, the mainnet is too expensive for the average trader, and there is severe ecosystem competition. While WIF on Solana is hitting 100x, the OGs on ETH are still waiting for "value to return."
In the next bull market, ETH might still struggle to break new highs.
It's not that the tech isn't solid; it's that the market has already run ahead of the technology.
#ETH #Solana #BNB
#XLayer