The post Sonic Lab’s Andre Cronje won’t invest in Ethereum: Here’s why appeared on BitcoinEthereumNews.com.

Andre Cronje criticizes Ethereum’s struggles, citing competition from Solana, Tron, and internal issues. Ethereum’s price action hinted at a breakout, but key support levels remained crucial. Ethereum [ETH] has faced a challenging period, with its price struggles continuing well into 2025, raising concerns among investors. Remarking on the same, Sonic Labs co-founder Andre Cronje has attributed ETH’s lackluster performance to mounting competition from Solana [SOL] and Tron, alongside internal conflicts within the network. Needless to say, the debate over whether Solana has surpassed Ethereum as the leading altcoin has already gained traction, particularly as Solana-based DEXs demonstrated resilience despite a broader memecoin market downturn. Notably, their trading volumes also remained competitive with Ethereum’s entire ecosystem, spanning both Layer 1 and Layer 2 networks. Andre Cronje criticizes Ethereum As Ethereum’s price falters despite key network developments, Cronje has taken to X to shed light on the factors influencing its recent decline. Cronje has voiced concerns over Ethereum’s declining price, pointing to key structural issues within its ecosystem. He argues that Layer 2 projects compromise user experience through fragmented liquidity and reliance on centralized sequencers, while their decision to offload ETH has only exacerbated downward price pressure. Additionally, shorting activity linked to USDe and an unclear scaling roadmap have further weighed on Ethereum’s market performance. Cronje also highlights a deeper issue—Ethereum’s leadership and representation—claiming that its most vocal defenders are podcasters rather than engineers. Meanwhile, rival blockchains like Solana and Avalanche are gaining ground, offering faster transaction speeds, improved finality, and more user-friendly interfaces, adding to Ethereum’s competitive challenges. He said,  “I mean, I dont know a single other team who are looking to deploy on Ethereum, its almost always Solana, Avalanche, Base (the ETH trojan horse), (or Sonic – I ofcourse have bias here).” Is Ethereum losing ground against other altcoins?…

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Filed under: News - @ March 9, 2025 11:05 am