陈剑Jason
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This sharp drop saw Ethereum rebound 10% from its low, while Solana rebounded 20%. I bottomed out on Sol when it was at 98, but Ethereum is still in a cash position. On one hand, I have a physiological aversion to Ethereum, and on the other hand, I rationally believe that if there is another bull market in the next six months, Ethereum will still not outperform Solana.
Firstly, the strength of the rebounds for both indicates everything; Ethereum is weak and struggling, and there are still ancient whales continuously selling off, while Solana's rebound is strong, being twice that of Ethereum in value.
Secondly, I haven’t seen any signs of improvement in Ethereum’s fundamentals. I will mention a scary thing: the new SEC chairman has taken office this week, so it’s highly likely that the ETF staking will pass in May. You might say, isn’t this good news for Ethereum? That’s true, but don’t forget, the next ETF to pass is likely to be Solana.
So what will the situation be then? There will be BTC, ETH, and Sol ETFs all at once. BTC goes without saying, no one can shake it. Ethereum and Solana will compete for the limited funds that are being diverted.
Please think like a U.S. stock investor. How many people who bought Ethereum would switch to Solana after Solana’s ETF passes? If this round is the ETF giving Ethereum a lifeline, it’s roughly estimated that perhaps 30% to even over 50% of the current Ethereum price is propped up by the ETF? Then after Solana’s ETF passes, it will likely take away a significant portion of Ethereum's already meager life support....
Solana will likely siphon off Ethereum, as there are no committed E-guardians in the U.S. stock market who are brainwashed by Vitalik’s infinite garden, decentralization, privacy, security, communism, and so on; U.S. stock investors are all mature investors who follow the money – whoever rises is the best.
So if in May, we see the existence of BTC ETF, ETH ETF, and Sol ETF simultaneously, can you imagine what that situation would be like?
Of course, Solana will definitely experience the same early selling pressure as BTC and ETH after its ETF is approved.
You might ask, ETH's ETF has the added card of staking, isn’t that cute? If Solana’s ETF passes, it can stake too.
So what cards does Ethereum have left?
I am not trying to FUD Ethereum nor am I praising Solana; I am purely analyzing this matter from the perspective of a vulgar speculator looking to make money.
Will Ethereum go up again? Of course, it will, but I personally believe it won’t rise as much as Solana.
I believe Ethereum's narrative is likely to touch 3000 or at most 3500 after the ETF staking is approved. I have no expectation of it returning to 4000 or even stabilizing above that; the two double tops for Ethereum this round were both at 4000 and were immediately knocked down, so the difficulty of breaking through 4000 for the third time is extremely high, unless there is a massive influx of funds and structural fundamental improvements to completely pull everything up and get everyone out of their positions.
Firstly, the strength of the rebounds for both indicates everything; Ethereum is weak and struggling, and there are still ancient whales continuously selling off, while Solana's rebound is strong, being twice that of Ethereum in value.
Secondly, I haven’t seen any signs of improvement in Ethereum’s fundamentals. I will mention a scary thing: the new SEC chairman has taken office this week, so it’s highly likely that the ETF staking will pass in May. You might say, isn’t this good news for Ethereum? That’s true, but don’t forget, the next ETF to pass is likely to be Solana.
So what will the situation be then? There will be BTC, ETH, and Sol ETFs all at once. BTC goes without saying, no one can shake it. Ethereum and Solana will compete for the limited funds that are being diverted.
Please think like a U.S. stock investor. How many people who bought Ethereum would switch to Solana after Solana’s ETF passes? If this round is the ETF giving Ethereum a lifeline, it’s roughly estimated that perhaps 30% to even over 50% of the current Ethereum price is propped up by the ETF? Then after Solana’s ETF passes, it will likely take away a significant portion of Ethereum's already meager life support....
Solana will likely siphon off Ethereum, as there are no committed E-guardians in the U.S. stock market who are brainwashed by Vitalik’s infinite garden, decentralization, privacy, security, communism, and so on; U.S. stock investors are all mature investors who follow the money – whoever rises is the best.
So if in May, we see the existence of BTC ETF, ETH ETF, and Sol ETF simultaneously, can you imagine what that situation would be like?
Of course, Solana will definitely experience the same early selling pressure as BTC and ETH after its ETF is approved.
You might ask, ETH's ETF has the added card of staking, isn’t that cute? If Solana’s ETF passes, it can stake too.
So what cards does Ethereum have left?
I am not trying to FUD Ethereum nor am I praising Solana; I am purely analyzing this matter from the perspective of a vulgar speculator looking to make money.
Will Ethereum go up again? Of course, it will, but I personally believe it won’t rise as much as Solana.
I believe Ethereum's narrative is likely to touch 3000 or at most 3500 after the ETF staking is approved. I have no expectation of it returning to 4000 or even stabilizing above that; the two double tops for Ethereum this round were both at 4000 and were immediately knocked down, so the difficulty of breaking through 4000 for the third time is extremely high, unless there is a massive influx of funds and structural fundamental improvements to completely pull everything up and get everyone out of their positions.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
SOL
173.36
+3.23%
