Renowned economist Alex Krüger recently stirred the crypto community by urging caution with Ethereum (ETH), suggesting that one of its biggest competitors has already surpassed its momentum and may continue outperforming it.
Krüger: Ethereum (ETH) Shows Signs of Stalling
In a statement on X, Krüger voiced his concerns to his 184,000 followers, citing Ethereum’s underwhelming performance over recent years. “It may be time to reconsider betting on Ethereum,” Krüger noted. According to him, when an asset expected to rally instead stagnates, it signals a deeper issue in the market. “There are better investments than Ethereum,” he stated, advising investors to explore new options. Although Krüger expressed interest in ETH and Solana (SOL) if pro-crypto candidate Donald Trump wins the U.S. presidential election, he has recently shifted focus away from ETH, choosing Solana as his preferred alternative.
It’s about time to stop betting on $ETH the asset. Even in the event of a Trump win. When an asset is supposed to go up and it does the opposite, that’s the market telling you something. There are better crypto assets to bet on. Don’t be stubborn.
— Alex Krüger (@krugermacro) October 25, 2024
Solana’s Rise: The Leader in ‘Degen Wars’
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Krüger emphasized that Ethereum’s on-chain activities, including its Layer 2 ecosystem, are shifting to other platforms, particularly Solana. He attributed Solana’s appeal to its strong role in the so-called “degen wars” within the meme coin space, a trend boosting its market position beyond Ethereum’s. With Solana achieving what he called “escape velocity,” Krüger believes the coin now offers new opportunities for investors. Reflecting on Ethereum’s performance against Bitcoin, Krüger pointed out that ETH/BTC has been in a multi-year downtrend, showing no signs of recovery for Ethereum.
How Will U.S. Elections Impact Altcoins?
Krüger argues that a Trump victory would positively impact the altcoin market. While he does not expect a sharp decline in the ETH/USD pair, he foresees better returns in assets like SOL and BTC. Furthermore, he mentioned the potential effect of SEC Chair Gary Gensler’s possible exit, which could open doors for Ethereum-based ETFs. While Krüger acknowledged that such a development might boost Ethereum’s attractiveness, he also noted that Solana could equally benefit, as SOL ETFs are already being discussed.
What’s Next for Ethereum?
Krüger raised critical questions regarding Ethereum’s future, asking what changes would be necessary to make ETH deflationary and reverse its current trajectory. His concerns about ETH’s long-term appeal reflect broader investor sentiments, as Ethereum trades at $2,473 while Solana’s value stands at $172. As The Bit Journal reports, Krüger’s insights point to a significant shift in investor sentiment, with many now looking beyond Ethereum for growth.
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