The bull market has shifted towards SOL and MEME, does ETH still have a future?
When Bitcoin was at 40,000, Ethereum was at 3,000
When Bitcoin was at 60,000, Ethereum was still at 3,000
Now that Bitcoin is at 90,000, Ethereum is still at 3,000
Looking at the ETH/BTC candlestick chart, I can't help but think, will holding ETH mean missing out on this round of the bull market?
Simply put, Ethereum was in a frenzy during both 2017 and 2021, primarily because it participated in both bull markets. During those times, ICOs and DeFi projects required a large amount of ETH. But what about this round?
The main focus is completely off ETH; the only innovation is Restaking, which keeps encouraging people to stake their assets on the ETH chain for returns. However, in the progress of the bull market, with the increasing profit effects, who cares about a few percentage points of returns this year?
Thus, it is clear on the chart to see the selling pressure and large funds dumping. Not making money in a bull market is equivalent to losing money because when the bear market comes, no one can avoid the beating.
Let's reassess the main line of this round of the bull market. The most obvious is still the MEME ecosystem, and the main line of MEME is based on SOL. The other main lines are chaotic and do not provide clear benefits for ETH.
So it is quite clear that as long as MEME does not cool down, SOL's strength will continue. With more and more people rushing into it, the demand for SOL will naturally increase, and what goes up must come down.
A project that is about to surge in the short term is on the horizon; doubling is not a problem. Like and comment, share freely.
