“Solana is the biggest slap in the face” for Ether maximalists due to its monolithic scalability approach, according to the analyst.
Ether remains stuck in a seven-month downtrend as competition among top blockchain networks continues, threatening further declines for the world’s second-largest cryptocurrency.
The price of Ether (ETH) has fallen more than 36% in the past seven months, from a yearly high of $4,111 in March 2024 to its current level of $2,600, according to Cointelegraph data.
ETH/USD, 1-year chart. Source: Cointelegraph
