Ethereum

Solana

Arbitrum

Optimism

<p>Ethereum (ETH) has witnessed a notable 8.9% surge in its price over the past 24 hours, reigniting bullish sentiment among traders and investors. This sudden spike in <a href="https://www.cryptopolitan.com/sec-delays-decision-on-ethereum-etfs-crypto/" rel="noopener noreferrer nofollow">Ethereum</a> value comes after a period during which it was outperformed by Solana (SOL) and several other altcoins.</p>
<h2 class="wp-block-heading" id="revenge-of-the-eth-traders-anticipate-a-strong-move">Revenge of the ETH: Traders anticipate a strong move</h2>
<p>In a<a href="https://twitter.com/gametheorizing/status/1740013263843479646" rel="noopener noreferrer nofollow" target="_blank"> recent</a> post on X (formerly Twitter), Jordi Alexander, the Chief Investment Officer at Selini Capital, expressed optimism about Ethereum’s future prospects, stating, “The revenge of the ETH is starting.”</p>
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   <p lang="en" dir="ltr">'The Revenge of The <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$ETH</a>' is starting.<br><br>Everything has lined up, it will now run for weeks.<br><br>Alts ran; Saylor fired his clip; Eth ETF next up.<br><br>The risk/reward on Ether is so compelling here, that I see a liquidity black hole now forming in January.<br><br>"Imajin being bearish ETH".. <a href="https://t.co/pfy9MJ9Em5" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/pfy9MJ9Em5</a></p>— Jordi Alexander (@gametheorizing) <a href="https://twitter.com/gametheorizing/status/1740013263843479646?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">December 27, 2023</a>
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<p>Alexander highlighted the recent rally across various altcoins and Michael Saylor’s purchase of $615 million worth of Bitcoin on December 26 as factors contributing to Ethereum’s potential for an upside move in the coming weeks.&nbsp;</p>
<p>He emphasized Ethereum’s compelling risk/reward profile, suggesting the formation of a liquidity black hole in January.</p>
<p>Pseudonymous trader Pentoshi also shared a bullish target for Ethereum, posting a chart on X with an approximate price target of $3,485 and the phrase, “Slowly, then all at once.”</p>
<h2 class="wp-block-heading" id="ethereum-vs-solana-a-rivalry-intensifies">Ethereum vs. Solana: A rivalry intensifies</h2>
<p>The rivalry between the Ethereum and Solana communities has escalated in recent weeks. While Ethereum has achieved a solid 102% gain year-to-date, its performance has paled in comparison to Solana, which has recorded an astonishing 951% increase since the start of the year, according to TradingView data.&nbsp;</p>
<p>Solana’s remarkable price performance, coupled with its notable on-chain activity, led many to argue that its lower fees and faster settlement times positioned it as a superior blockchain when compared to Ethereum.</p>
<p>On the other hand, Ethereum proponents contended that its network architecture was better suited for larger entities engaging in on-chain activities. They pointed to layer-2 scaling solutions such as Optimism and Arbitrum as examples of Ethereum’s ability to offer cost-effective fee structures.</p>
<p>At the time of this publication, Ethereum is trading at approximately $2,417, reflecting an 8.9% increase in the past 24 hours. Meanwhile, Solana has briefly paused its recent upward trajectory and is trading at $104, representing a 4.2% decline in the last day.</p>

Ethereum experiences 9% surge, sparking optimism among traders

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