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VanEck optimistic on Bitcoin's momentum in Q4 but wary of Ethereum's struggles

VanEck optimistic on Bitcoin's momentum in Q4 but wary of Ethereum's struggles
The VanEck September recap report states that Bitcoin has a positive outlook for the fourth quarter due to strong macroeconomic support and institutional inflows. Bitcoin saw a 7.7% surge in September, outpacing Ethereum, which only gained 3.2%. VanEck highlights that the rally in Bitcoin indicates growing investor confidence. In contrast, Ethereum struggled with declining fee generation and a decrease in market share. VanEck suggests that while Ethereum's long-term strategy aims for mass adoption, its short-term underperformance may challenge its market position. Layer-1 blockchains, including Sui, Aptos, and Solana, performed well, while Polygon underperformed with a 4% decrease. Memecoins and DeFi tokens saw gains in September.

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