The post 3 Reasons Why ETH No More A Trump-Trade appeared on BitcoinEthereumNews.com.

The world’s largest altcoin Ethereum (ETH) has faced major challenges with investors showing disappointment over its recent price performance. On the other hand, its Layer-1 competitor Solana is gaining much traction among investors amid strong DeFi activity. Popular economist Alex Kruger explains that ETH is no more a Trump trade and why he has stopped betting on the altcoin altogether. Shifting Focus from Ethereum to Other Solana Despite the strong chances of a Donald Trump presidential win, renowned crypto analyst Alex Kruger advises betting against Ethereum. He speculated that although the broader altcoin market would turn positive following Donald Trump’s victory, ETH has less chance of a rally. “When an asset is supposed to go up and does the opposite, that’s the market telling you something,” said Kruger. Unlike other altcoins, ETH hasn’t much participated in the market rally over the last year. Furthermore, the launch of spot Ether ETFs hasn’t done enough to garner institutional interest in Ether. Noting Ethereum’s multi-year downtrend against Bitcoin (ETH/BTC) and shifting on-chain activity away from ETH, Kruger has removed ETH from his election strategy. Betting on Trump’s victory prospects, Kruger had previously initiated longs for both, ETH and SOL. However, he recently dropped ETH from his core assets and said that he would rather focus on Bitcoin and Solana. He pointed to Solana’s recent performance and growth in the Layer 2 and Bitcoin ecosystems as better opportunities. To keep up with Solana’s growth, Vitalik Buterin suggested a few measures to boost TPS on the Ethereum blockchain. Furthermore, amid the recent AI meme coin frenzy, Solana overtook Ethereum in terms of daily revenue. Kruger stated that following the Trump victory, SEC Chair Gary Gensler might be ousted. This would open the chances for spot Ether ETFs to stake their ETH. But in such a…

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Filed under: News - @ October 26, 2024 9:20 am