Ethereum (ETH) has not been doing well in recent days. Once the 'king of public chains', it is now undergoing a test of market confidence. According to the latest data, ETH's market share has fallen to 7.4%, a figure that brings to mind the naive DeFi summer of 2020. In just a few short years, the market landscape has completely changed.
Do you remember the crazy bull market of 2021? At that time, 1 ETH could be exchanged for 0.08 BTC, but now this number has shrunk to a pitiful 0.018, a depreciation rate of up to 4 times. This comparison is like a cold shower, waking up many loyal ETH supporters.
What is even more distressing for ETH holders is that its exchange ratio with Solana (SOL) is also deteriorating sharply. Last year, 1 ETH could be exchanged for 111 SOL, but now it can only be exchanged for 11.5, a staggering depreciation rate of 10 times. This change seems to tell us: the competition in the crypto world never stops, and if you're not careful, you will be surpassed by newcomers.
ETH's situation is indeed lamentable. Once, it brought innovation through smart contracts that changed the entire industry, but now it has to face the reality of its market share being constantly eroded. This inevitably raises the question: is the market too fickle, or has ETH's pace of innovation really slowed down? Perhaps this is the cruel yet fascinating aspect of the crypto market - there are no eternal kings, only continuous evolution.
If anyone is feeling confused due to market fluctuations, unsure of how to cope with being trapped in a position, or feels misled during their operations, feel free to reach out!
