The fate of Ether may have been sealed when it transitioned to POS!
The exchange rate of Ethereum against Bitcoin peaked on the day it switched to POS, and then underwent a two-year decline, which has accelerated over the past three months.
In the last bull market, the Ethereum chain was known as the aristocratic chain, with transaction fees often reaching hundreds of dollars. While various L2 solutions patched up the Ethereum chain, liquidity became fragmented. When there was still a wealth creation effect, the issues were obscured. Ultimately, when the Ethereum team led the way into a staking model for earning coins, the decline began.
Previously, there was frequent criticism of the Solana chain for its downtime, but no one denied that Solana is indeed fast, and now there are many high-performance public chains, with web3 wallets conveniently allowing the use of various high-performance public chains. Is L2 really necessary? Bitcoin proves it is not needed; only the Ethereum chain requires L2.
When Alibaba was surpassed by Pinduoduo, people still habitually believed Alibaba would regain its lost ground. In this bull market, we may truly see Solana become the second largest!!!
