Bitcoin has risen significantly, showcasing a 160% gain against Ethereum since the Merge in September 2022. This performance has triggered skepticism about Ethereum’s long-term market potential, as ETH’s positioning weakens against its biggest rival.
Ethereum is seeing long-term holders reduce their ETH exposure, while Solana captures market share in decentralized finance. The supply growth rate of Ethereum has stagnated, complicating its deflationary narrative and uncertain price outlook.
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