I do think ETH will be fine, I just struggle with the case for owning it vs BTC/SOL, and haven’t heard a good case for why it’s bullish *against* those assets. 

We saw like a week post-election where it outperformed, and then ETHBTC got sent back down to new lows. Would be keen to hear a material case for ETHBTC or ETHSOL being green over the next 1y

this post sums it up nicely: https://x.com/fejau_inc/status/1857521633688240613

on a long time horizon (5+ years), I’m confident that ETH will perform well. but it’s pretty clear that it’s not going to outperform this cycle.

SOL was very clearly a better asset to hold over the last year+, but medium to long term it will suffer from high inflation (7-8%) and big unlocks.

and given the recent institutional/gov adoption of BTC, it’s pretty hard to justify holding ETH in its place. only thing that could maybe save it this cycle is the ETFs really picking up steam.

So the thing about the whole "Oh its normal during a BTC run that ETH bleeds while BTC runs itll catch up soon"

Is that unlike in 2020 the last dominance run, SOL/BTC (a shorthand view at alt L1's at the time) is no longer correlating with ETH/BTC.

As you can see, in 2020 ETH… https://t.co/V2hPnjYnQh