Rise in Crypto Market and Ethereum Lagging behind

To understand why Ethereum lags compared to Bitcoin and Solana, we can consider several factors:

Expectation of Approval of Ethereum ETFs: Ethereum ETFs were expected to be approved in America, but this approval did not come as expected. Unlike Bitcoin, such ETFs of Ethereum have not been approved, thus creating no expectation or excitement among investors. This has been a factor affecting Ethereum's price because ETF approval could help Ethereum reach a broader investor base and provide access to more liquidity.

Coinbase's Evaluation: The value given to Ethereum by major cryptocurrency exchanges such as Coinbase may affect the price of Ethereum. If Ethereum is rejected or pushed back by Coinbase, it could shake investors' confidence and put pressure on the price. This could cause Ethereum to fall behind compared to Bitcoin and Solana.

Decentralized Finance (DeFi) Applications and Activity: Ethereum hosts a large portion of Decentralized Finance (DeFi) applications. But other networks like Solana are also starting to see more and more DeFi activity. This may call Ethereum's DeFi leadership into question and increase interest in other platforms.

Technical Factors: Technical factors such as transaction fees and transaction speed on Ethereum's blockchain can affect investors' assessment of Ethereum's competitive position. For example, high transaction fees could limit the use of Ethereum, which could drive the price down.

A combination of these factors could cause Ethereum to lag compared to Bitcoin and Solana. However, Ethereum's core technological features and leadership in the DeFi space may allow Ethereum to regain value and compete with other platforms in the long run.$ETH $SOL $BTC