Ethereum has no plans to lose its top tier 1 position, says a crypto analyst, but here’s when it could be ousted

A widely followed cryptocurrency analyst and trader does not believe Ethereum (ETH) could lose its top-level (L1) position anytime soon.

The analyst known by the pseudonym Kaleo tells his 615,900 followers on social media platform X that the second-best performing digital asset by market capitalization enjoys a clear advantage over its many competitors.

The trader believes that there is little chance of ETH losing the top spot in the current cryptocurrency market cycle to any L1 project. However, according to him, the chances of a competitor dethroning ETH could increase after two more market cycles.

“I’ll put this out there: As much hate as ETH gets, I still don’t expect any L1s to reverse it this cycle. That doesn’t mean we won’t see many more of them. But over the past seven years that I’ve been in this space, I’ve heard countless names invoked as the next ETH killer. Ultimately, none of them have ousted Ethereum’s place as the ultimate settlement layer, and I don’t see that changing just yet. If it were to happen, I think we’re two cycles away from seeing it happen.”

The trader also updates his outlook on Ethereum and other digital assets, suggesting a possible cooling of the cryptocurrency market ahead of the Bitcoin (BTC) halving event in April, when miners’ rewards will be halved.

“I started thinking about it a little more and I think there’s a solid chance we don’t see an ETH round yet, and I’m fine with that. I got caught up in the narrative that other L1s had solid pumps, so ETH had to In all honesty, in the ETH cycle we are probably closer to July 2019 than December 2020. We haven’t had the halving yet, so there’s no need to rush and get too bullish too quickly.

A little more calm in the market wouldn’t surprise me, and honestly it would be incredibly healthy. It would give you the chance to get amazing rumors on the alternatives that you thought you had missed in the last few months before the real bull market begins. If we somehow still get endless short-term green candles, of course I wouldn’t hate it either, but I’m willing to be patient.

At the time of writing, Ethereum is trading for $2,481, down nearly 2% over the past 24 hours.

Leave a Reply

Your email address will not be published. Required fields are marked *

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected]
follow telegram
pornhd.com hindisexyporn.com kashmiri girls sex jayasex indaporn.info desi bhabi xxx xlnindia sexo-vids.com 1st time sex video たかはししょうこ動画 javfuck.mobi 真正中出し3本番 彩乃なな sex film sexy film xxxhindividoes.com xnxx indian teens
ano nga ba ang pangarap iwantmoreteleserye.com hello heart episode 3 reshma hot saree images nuporn.mobi xvidies com bihar chudai tubezaur.mobi heroine photo hot dasixx hardcoreporntrends.com ileana d'cruz hot photoshoot www.xxxsexvideo.com xbeegtube.mobi hindi movi
www sxe vidoes erohardcore.info boops sucking dehati fuck kitporn.info chuk chuk rail fuckcomix.com mojoporntube.net gujaratisexvidio probinsyano october 18 2021 full episode freeteleseryetv.net ang probinsyano july 14 2022 قصص سكس كرتون cmsextra.net سكس بنات تخينة