Trader Alex Krüger is warning traders about Ethereum, stating that one of its major competitors has already gained momentum and is likely to continue outperforming.
On X, Krüger informs his 184,000 followers that it might be time to stop investing in ETH given its lackluster performance in recent years.
“Even when an asset is expected to rise but does the opposite, that’s a signal from the market. There are better crypto assets to focus on. Don’t be stubborn.”
Krüger reveals that he had planned to go long on ETH and Solana (SOL) on the night of the US election if it seemed like pro-crypto candidate Donald Trump was leading. However, he has now shifted his focus away from ETH towards SOL and other opportunities.
He points out that the recent surge in memecoins on Solana has elevated the Ethereum rival above Ethereum and its layer-2 (L2) ecosystem.
“A Trump victory would be beneficial for altcoins. I’m not bearish on ETH/USD, but there are many other coins worth investing in.
The ETH/BTC chart has been in a clear downtrend for years without a recent exhaustion flush. On-chain activity is shifting away from Ethereum. L2s are growing but not adding significant value to ETH. Solana has surged ahead, winning in the memecoin arena. A new ecosystem is emerging around BTC.
What would it take to change the fundamentals, reverse the trend? How can ETH become deflationary again? Why bet on ETH over BTC + SOL?
Gensler’s departure could pave the way for ETH ETFs to stake ETH in custody, making them more appealing. However, it could also open the door for SOL ETFs.
I’m open to different perspectives. Welcome those who can convince me otherwise.”
Currently, Ethereum is valued at $2,473, while Solana stands at $172.
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