$ETH

Ethereum (ETH) price is trading around $3,200 while Ripple (XRP) and Solana (SOL) are hovering around $3.13 and $250 respectively on Thursday. Santiment data shows that ETH’s market cap is down 4.7%, while XRP and SOL have surged 36.9% and 32.2% respectively in a month. Alexander Pack explains how Ethereum’s modular approach has hurt ETH’s price due to reduced fees and fewer token burns. Santiment data suggests that the rising negativity on social media surrounding ETH could serve as a bullish signal for contrarian investors.

Ethereum Market Cap Drops While Ripple and Solana Rise

According to Santiment data, Ethereum’s market cap is down while Ripple and Solana’s market caps are up in a month.

As shown in the chart below, from December 21 to January 21, ETH’s market cap dropped by 4.7%, while XRP and SOL surged by 36.9% and 32.2%, respectively. This shows that the crowd is slowly but surely turning against ETH (the second-largest crypto market cap) in favor of more attractive and better-performing assets like XRP (the third-largest crypto market cap) and SOL (the fourth-largest crypto market cap).