nick
@nickysap
Ethereum has been one of the worst investments in crypto since its pico top in 2021. If you bought then, you're down 60%+. ETHBTC revisiting levels not seen since Dec 2020 right before it ran to its ATH against USD. This was also a critical level right before the 2017 run to its previous ATH against USD. If it's gonna bounce, it needs to bounce here. Historically, ETH/BTC lows have preceded USD highs, but this time? It doesn’t look likely. - ETH has never put in new highs against BTC - No ATH against USD this cycle, with key resistance at ~$4082. - A multi-year downtrend on waning volumes - Seemingly bottomless RSI, oversold into oblivion and illustrating immense weakness. If you're long-term bullish on ETH you're praying for a mean reversion at best right now. But that would rely on major catalysts driving volume into a renewed alt szn.
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Chase Sommer
@chasesommer
Also, in all seriousness, which chains do you think are going to be picking up where ETH left off in terms of onboarding/usage/liquidity? SOL is the obvious answer it appears. I've also tried selling you on SUI. Just curious your thoughts
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nick
@nickysap
The thing is, Ethereum can likely live on even if it’s not a sound investment. The infrastructure and developer adoption is still essentially unmatched. It’s battle tested and the amount of liquidity throughout the ecosystem is staggering. Solana may eventually get there but they need to solve some critical problems like reliability.
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Connor G
@moonbags
Eth has so much built on top already, it'd be hard to move away from that
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nick
@nickysap
And its unlikely that many will just based on price. But ETH's price and Ethereum's value are not necessarily correlated.
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