Ethereum is lagging in this bullish cycle. As Bitcoin soared to up-to-date all-time highs, surpassing $70,000 in March, ETH prices struggled to break $4,000. When this happened, the best thing the coin could do was retest $4,100 before dumping challenging.

Over the past seven months, after the second most valuable coin registered 2024 highs, it has fallen by almost 40%. Given its performance over the past three months, there are concerns that Ethereum could see even greater losses. Technically, this could be the case if it fails to break above the $3,000 level in the coming sessions.

Don’t blame Ethereum or its leaders for ETH’s impoverished performance

Going to X, one analyst thinks ETH is inferior to Bitcoin, Solana and even Tron, and not because of the way the network was designed or its leadership. In his opinion, the disastrous results of the last seven months worry “uninformed” investors.

Admittedly, after prices peaked in March, Vitalik Buterin and the Ethereum Foundation dumped their stocks. According to Dune, the foundation remains transfer coins regularly.

On September 6, they transferred 1,000 ETH when the coin changed hands at a price of $2,300. Most of these coins were sent to exchanges for liquidation. Although Buterin sells ETH from time to time, the co-founder sells meme coins extensively and donates to various charities around the world.

Typically, senior or foundation selling is bearish. However, based on the analyst’s assessment, his actions, including many others aimed at improving the network, do not raise any major concerns.

Will ETH be a better carrier of value than Bitcoin for growth?

Analyst X believes that ETH is falling because investors lack knowledge about the project’s fundamental strengths. Most importantly, the argument is that ETH may be a better store of value than gold. The observer insists that Ethereum and Bitcoin are competing with each other, and to claim otherwise is a mistake. Both of these chains ultimately want to dominate the market.

Bitcoin is the most valuable so far. On the other hand, Ethereum is the most dynamic astute contract platform, offering more versatility and “richer” than the first blockchain.

For ETH to grow stronger, it must establish itself as a superior store of value, better than Bitcoin. This will require the network to have high delivery dynamics and a greater focus on finance as its primary exploit case. When this happens, ETH will become more attractive not only to investors but also to developers.

For now, Ethereum is growing stronger looking at net ETH deflation since EIP-1559 looking at Ultrasonic money. At the same time, its roll-up ecosystem is growing rapidly, scaling the mainnet. Overall, the coin may benefit from this in the long run, pushing its valuation higher.

Feature image from DALLE, chart from TradingView