CandleFocus ‘I’ve Scratched ETH Off’ – Economist Alex Krüger Says One Ethereum Rival Has Now Reached Escape Velocity
2024-10-27
Author: Content Editor
Economist Alex Krüger believes that Ethereum (ETH) is underperforming and advises traders to look into other cryptocurrencies, particularly Solana (SOL), which he says has reached "escape velocity" and is likely to continue outperforming Ethereum. Krüger had previously planned to leverage long positions on ETH and SOL during the US election if pro-crypto candidate Donald Trump seemed to be winning, but he has now shifted his focus to SOL and other opportunities. Krüger highlights that the recent memecoin frenzy on Solana has pushed it into a more dominant position than Ethereum and its layer-2 ecosystem. He also mentions that the ETH/BTC chart is in a multi-year downtrend and on-chain activity is moving away from Ethereum. Krüger concludes by questioning what it will take to turn ETH fundamentals around and arguing for the case of investing in BTC + SOL rather than ETH. At the time of writing, Ethereum is trading at $2,473 while Solana is worth $172.
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