❗❗❗ Bitcoin surges, why is Ethereum lagging behind?

Recently, the price of Bitcoin has skyrocketed to 88,000, while Ethereum is still below 1,600. This gap has led many to complain about Ethereum. After all, it has plummeted from 3,500 without even a decent rebound.

Why is this happening? Some speculate that, first, Ethereum is 'too big,' institutional investors are selling off to clear out retail investors and long positions, while also letting some institutions cut their losses, much like what happened with Three Arrows Capital in 2022; second, there are issues with Ethereum's fundamentals. I think the first possibility is more likely. Look at Ripple, Cardano, and Solana, all of which are rising, and their market values are catching up to Ethereum, but their daily trading volumes are less than one-fifth of Ethereum's, while Ethereum's daily trading volume can reach 50%-70% of Bitcoin's. This is clearly mismatched with its current market value.

Many people think Ethereum is failing, but from another perspective, Ethereum is actually very cost-effective at this time. Although 1,384 may not be the bottom, this price level is indeed worth noting. If Ethereum really fails completely, the entire crypto space may only have various funny 'meme coins' left to speculate on, and other public chains like Solana may also be in trouble in the long run.

Although Ethereum may be replaced by new things in the future, it certainly won't be tokens like Solana or Ripple that are 'pseudo-decentralized.' I believe that, in the long run, Ethereum still has its value and potential.