I seem to have written at least 2 articles about Ethereum, as well as Ethereum and SOL. Many people think Ethereum is not doing well, mainly because it is being compared to BTC and SOL.
To be honest, there's no need to compare it with BTC, as they are not in the same race. As Nine Gods said in his Bitcoin hoarding, for applications like Ethereum, if you propose a 2.0 today, tomorrow they'll come up with a 3.0, and the day after that, someone will definitely come up with a 4.0. You can rest assured.
BTS was the first to propose doing 2.0 applications, but where is it now? When it comes to applications, the requirements are fast, large, and fun. This endless demand for technology is endless.
To help everyone understand, I'll make a possibly inappropriate analogy. Apple needs to constantly update and upgrade to maintain its leading position, but gold only needs to maintain stability to remain gold.
The less functionality a currency has, the better. We can imagine if we added a contract signing function to banknotes, opened up a blank area for you to leave messages and doodle, or even included a game for you to play, would you consider that innovative?
Obviously not, you would think it is all show and no substance. People will ultimately choose the "clean" currency, and Bitcoin is just that clean. So Bitcoin is the leader, and Ethereum is also a leader, but they are not in the same race, nor are they the same scale. The roles and functions they undertake are different, so don't compare them to BTC.
Don't talk about 2017 or 2021 either. Back then, Ethereum had an ICO that issued a bunch of coins, and the entire ERC20, you can see, hundreds and thousands of ERC20 tokens were incubated by Ethereum.
Including the DeFi summer outbreak, it was like an operating system, originally just a bare system, and then hundreds of applications had to queue up to be installed, and the prerequisite for installing them was to purchase ETH. Project participants all had to interact, and they needed a lot of ETH, so the price could rival BTC.
But when this round is over, what else is there to say, what else is there to highlight? There's nothing, the innovation can't keep up, so the trend of not keeping up with BTC is natural. It's only natural to compare it to SOL, after all, they're in the same race. From the coin price perspective, SOL's growth rate is basically as fast as Bitcoin's. Currently, BTC has hit a new high, and SOL has also hit a new high with a 10% increase. Does this mean SOL is better than Ethereum? No, it just means Wall Street is playing hardball, bluntly grabbing Ethereum's users, both on-chain and off-chain, luring developers and project parties away from Ethereum to the SOL chain, as well as diverting some of the funds planned to buy ETH to buy SOL under the influence of SOL's market cap and FOMO.
But whether the coin price can be sustained in the long run depends on what SOL's public chain has actually done that Ethereum hasn't, what innovations it has made that Ethereum doesn't have. So far, I haven't seen anything.
The problems Ethereum is facing are the same as those faced by SOL. If we compare the development of public chains to walking, Ethereum has walked 9 steps in 9 years, and then stopped. SOL is like it has walked 8 steps in 5 years, following Ethereum's footprints, but it has also stopped at the 9th step. However, I know what everyone is most concerned about is the coin price, which is better to buy, Ethereum or SOL? As Buffett said, there are three things to consider when investing, the first is to preserve the principal, the second is to preserve the principal, and the third is still to preserve the principal.
In other words, the primary consideration in choosing a target is low odds, but low odds usually mean low returns. However, there are indeed some low-odds, high-return targets, such as BTC, which is one of the reasons why big capital favors BTC.
Back to the question, which is better to buy, Ethereum or SOL?
From the perspective of investing to preserve the principal, currently, ETH is at a low-odds price level relative to SOL. Let's take a look at the ETH/BTC exchange rate: on May 26, Bitcoin was $67,000, ETH was $3,800; on July 30, Bitcoin was $67,000, ETH was $3,200; on September 28, Bitcoin was $67,000, ETH was $2,600; on October 27, Bitcoin was $67,000, ETH was $2,500. If we look at the monthly line, it is also declining, with a two-year consecutive decline. The ETH/SOL exchange rate is the same. In the recent decline, Ethereum whales have added 4,000 ETH, and Ethereum is being cursed all over the network, which is a relatively bottom signal. The upgrade in the first quarter of next year is a definite big positive for ETH, which is a low-odds, high-return opportunity. If you took action on November 6th after reading the article, you should have a 15% return by now. There is also recent positive news for Ethereum, with the Ethereum Developer Conference to be held on November 12th.
In short, don't be hasty with Ethereum, the history has always been that Bitcoin goes crazy first, and then ETH follows. This round is expected to see ETH start a significant catch-up rally when BTC is around $80,000. Until it reaches a new high of around $4,800, BTC will then accelerate again towards $100,000. If you have ETH now, you don't need to change cars, just sit and wait.
