When Bitcoin was 40,000, Ethereum was 3,000

When Bitcoin was 60,000, Ethereum was still 3,000

Bitcoin is now 90,000, and Ethereum is still 3,000

Looking at the K-line of ETH/BTC, I can't help but think, will I miss this bull market if I hold ETH?

Simply put, Ethereum was in a crazy bull state in 2017 and 2021, mainly because Ethereum participated in both bull markets. No matter which ICO or Defi was used in those years, a large amount of ETH was needed. What about this round? The main line is not on ETH at all. The only innovation is Restaking, which allows everyone to keep putting chips on the ETH chain to earn income. However, in the process of the bull market, the money-making effect is constantly pushed up. Who cares about the yield of a few points this year?

Therefore, there is obvious selling pressure and large funds dumping goods on the market. Not making money in the bull market is equivalent to losing money, because when the bear market comes, no one can escape the beating. Let's revisit the main line of this round of bull market. The most obvious one is the MEME ecosystem, and the main line of MEME is based on SOL. The other main lines are messy and will not clearly benefit ETH.

So it is obvious that if MEME does not stop, SOL will continue to be strong. As more and more people rush to the dog, the demand for SOL will become more vigorous, and it is natural for the tide to rise. Of course, for the short term, the judgment is still that MEME will adjust at any time and has entered a short-term climax, so those who are optimistic about SOL will be more cost-effective to wait patiently for a callback.

What about ETH? I think that at least we can't see too many reasons for ETH to rise at present, and the bull market seems to have nothing to do with it. What we can look forward to in the future is the opening of the US Ethereum ETF for staking. Although it only has a 3% yield, it is also a considerable temptation for large institutions. In the future, as the US Treasury yield declines, the staking of ETH will become more and more attractive