ETH leading the alt season? | Bitcointalksearch.org

TastyChillySauce00

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ETH has been pretty weak, if any, solana has been leading the alt season for alt sector, just see this chart it tells us volume about the state of alt top coins

I also agree with the writer's opinion about the decision of offloading tx to L2 as a mistake, money gonna be spread thin to these L2 governance token, unnecessarily, and could potentially halt ETH price growth.
but I guess this scaling is needed because otherwise ETH fee can be as bad as in previous bullrun like in that time of NFT crazes.

avikz

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2 minutes silence for those who thinks that ETH or any other altcoins drive the alt market.

It's all driven by Bitcoin. The entire market is driven by Bitcoin. ETH or any other alts have no or very less impact on the market movements. Bitcoin has 56% dominance here. That's what drives the rest of the market.

Alt season can't happen if Bitcoin doesn't drive things to its direction.

pakhitheboss

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WOW! Someone looks like living on 2017 or 2021, Ethereum doesn't hold anything that can prove that it is running the altcoins season. The only thing that is giving Ethereum a competitive advantage is the ecosystem.

After being part of the ETF and being in the bull run, Ethereum has lost it. I was expecting a good jump in its price whereas it has disappointed me to a large. I do not what will happen next for ETH but, I know the future is no more about it.

Patikno

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If you know, you know!

I am not so sure that Eth will lead the altcoin bull run or that all other altcoins will move together with Eth, although it could happen as you said. Because, so far I see that Bitcoin has always been a reference for altcoins, including Eth. This can be seen in the soaring altcoins in early 2024, well this altcoin increase was driven by the increase in Bitcoin.

betswift

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Quote from: Dr.Bitcoin_Strange on January 08, 2025, 08:09:14 AM

Well, no matter what, I think that Bitcoin is always the lead coin to the price movement of altcoins, ETH price moves in respect to Bitcoin and so are other altcoins and I believe that that's how it's going to be. ETH alone can not make a lead for all the other altcoins in the market.

It leads all the alts, and the ETH moves according to Bitcoin. They are like a chain which starts from the biggest domino of them all Wink

But there is no alt season yet, at least in my book.

Dr.Bitcoin_Strange

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Well, no matter what, I think that Bitcoin is always the lead coin to the price movement of altcoins, ETH price moves in respect to Bitcoin and so are other altcoins and I believe that that's how it's going to be. ETH alone can not make a lead for all the other altcoins in the market.

TravelMug

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Quote from: Sanitough on January 06, 2025, 09:49:07 AM

Quote from: Accardo on January 06, 2025, 09:33:46 AM

And when that happens, it may work this way, since Bitcoin didn't enforce changes on alts, Eth might lead the alts bull run, I mean all other alts moving alongside Eth not Bitcoin anymore.

With all the changes being reported, will it actually solve the issue of ETH's high transaction fees? If not, I don’t see ETH leading the altcoin market anytime soon. When demand for ETH and its tokens spikes, the network tends to get congested, and those sky-high fees come back. At that point, investors might avoid transacting altogether because the fees are just too ridiculous to make it worth it.

It's obvious that even after so many iteration, the problem still persists with that high transaction fee on ETH. And then it become more decentralized as only few players have control of mining and that is one drawback that we have seen in ETH and this could have sway away investors.

As far as following the price movement of Bitcoin, it's obvious, there have been a decoupling already. Bitcoin has made a lot of all time high but ETH and the rest of the altcoin are still way below, like -40% from their previous high.

Although there is still a big chance the altcoin market will have it's own bull run for this year.

fikrett

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Quote from: ultrloa on January 07, 2025, 05:54:11 AM

Whatever things they write and speculate out there we can always see that once Bitcoin pumps and dump altcoin will also follow. Maybe there's certain movement that will happen to alts after Bitcoin price stabilize but for sure everyone would notice that almost all of altcoins out there follows on what will happen on Bitcoin.

Maybe those speculators like those guys just want to create some attention for ETH since maybe they want to see it pump so for them to get a benefit especially if they are a holder of this coin.

So don't get deceive about pure speculation and better for people to follow the Bitcoin market growth since they would see the possible outcome of other altcoins.

Usually that's how it is - some coins though don't follow BTC fully and truly, but the overall tendency is there.
Only after Bitcoin would be on its final bullish leg we would see ETH and others outperform it for a little while.

EarnOnVictor

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Quote from: Accardo on January 06, 2025, 09:33:46 AM

Unexpectedly in this recent market observations, the bull season had little impacts on the number 1 altcoin Eth. Whatever is the reason to this backlog I'd have to add up few research of mine, according to this article, the main reason that affected the growth of Eth is the migration of projects like Uniswap, Polymarket, and Ens to another network, due to the eth gas fee and inability to scale. Additionally, the vitalik Buterin decision of moving the network to Layer 2 was criticised in same work as a fatal mistake - as it'll do no good for Ethereum. This was backed with the disadvantage of switching a project from different network, which dampens viral growth

The hype behind ETH is gone, the coin has disappointed many to the point that no one is looking at it as a viable competitor of Bitcoin as it was widely believed. This started when it was difficult for ETH to hit its ATH again despite Bitcoin hitting it many times this year and has continued to maintain regular breaches to create another ATH.

This coupled with the fact that ETH is exploiting, the high fees are no longer acceptable and I don't know why Vitalik Buterin is so greedy. Gone are the days when people and developers did not care about fees, we care now and there are better alternatives to ETH now, so what do you expect?

ultrloa

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Quote from: Accardo on January 06, 2025, 09:33:46 AM

Unexpectedly in this recent market observations, the bull season had little impacts on the number 1 altcoin Eth. Whatever is the reason to this backlog I'd have to add up few research of mine, according to this article, the main reason that affected the growth of Eth is the migration of projects like Uniswap, Polymarket, and Ens to another network, due to the eth gas fee and inability to scale. Additionally, the vitalik Buterin decision of moving the network to Layer 2 was criticised in same work as a fatal mistake - as it'll do no good for Ethereum. This was backed with the disadvantage of switching a project from different network, which dampens viral growth

However that's all with the writer's idea, there's a move to allow people to run nodes in the network - the integration of solo staking, and the reduction of the minimum Eth needed for participation from 32eth to 16 or 24eth. Vitalik's choice of making the network decentralized would convince investors to consider picking eth as a number 1 choice, also that's the reason why I should look into the argument of some analysts who think eth would move in 2025.

And when that happens, it may work this way, since Bitcoin didn't enforce changes on alts, Eth might lead the alts bull run, I mean all other alts moving alongside Eth not Bitcoin anymore.

Whatever things they write and speculate out there we can always see that once Bitcoin pumps and dump altcoin will also follow. Maybe there's certain movement that will happen to alts after Bitcoin price stabilize but for sure everyone would notice that almost all of altcoins out there follows on what will happen on Bitcoin.

Maybe those speculators like those guys just want to create some attention for ETH since maybe they want to see it pump so for them to get a benefit especially if they are a holder of this coin.

So don't get deceive about pure speculation and better for people to follow the Bitcoin market growth since they would see the possible outcome of other altcoins.

FortuneFollower

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Quote from: asriloni on January 06, 2025, 11:41:55 AM

When the money is shifting to the ethereum. It can be a signal for alt season. However, it needs further confirmation through seeing Bitcoin Dominance chart. I often used ethereum as a signal, but only happened when BTC.D was declining sharply.

The cycle is that BTC > ETH > ALTs.

We have seen it a few weeks ago when ETH jumped from below 3k to the 3.6k in matter of days, then after ETH reached its supply zone, money was shifting toward Alts.

I also totally agreed with the article you mentioned above. There are too many L2, and demand gets divided. It's hard to keep money to flow into the one ecosystem, and criticism Ethereum Foundation's decision to focusing on L2 instead of how to scale its slow blockchain.

I hope it becomes a wake up call for Ethereum Foundation to focus on the scalability of their blockchain.

Totally.
And I agree - we need to see the biggest ATH from BTC first, then the dominance would shift to ETH and other alts, and only then - all the others. It's a natural flow of things, and it would be broken only if there would be a supercycle for Bitcoin coming in 2025.

el kaka22

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The proof of stake made it more profitable to hold ETH, then spend it. Which is a great reason, and considering you could even get ETH using bunch of ETF's that got approved, I could say that's another reason for many people not using it, because it's on ETF. But main reason has to be proof of stake, because back in the day people would get ETH to use it, that's how you made money with ETH, you bought it, send it to your wallet, then used it on bunch of projects.

These days those things are done by SOL and such, and ETH is just a solid coin that you stake, and earn money that way. Not only you get 5%+ ETH every year, but the price of ETH goes up together as well, so you would be making even more money that way, hence the reason to spend it or use it is now gone.

Hagart

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I highly doubt Ethereum is leading anything right now, and I don't think it will do it in the same way as 4 years ago, at least in the current season, although I also don't think that what we are seeing now is an altcoin season, but each user has different ways of seeing things. The altcoin that surprised me was XRP, which after the problems that Ripple has had, has considerably increased its market capitalization in a very short time. I think that when the season arrives, XRP will still have a lot to talk about, and although Ethereum rises in value, it will not do so on its own merits, but rather due to the almost constant rise of Bitcoin and the entire market. XRP is my bet for the next season.

asriloni

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When the money is shifting to the ethereum. It can be a signal for alt season. However, it needs further confirmation through seeing Bitcoin Dominance chart. I often used ethereum as a signal, but only happened when BTC.D was declining sharply.

The cycle is that BTC > ETH > ALTs.

We have seen it a few weeks ago when ETH jumped from below 3k to the 3.6k in matter of days, then after ETH reached its supply zone, money was shifting toward Alts.

I also totally agreed with the article you mentioned above. There are too many L2, and demand gets divided. It's hard to keep money to flow into the one ecosystem, and criticism Ethereum Foundation's decision to focusing on L2 instead of how to scale its slow blockchain.

I hope it becomes a wake up call for Ethereum Foundation to focus on the scalability of their blockchain.

Odusko

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Quote from: Charles-Tim on January 06, 2025, 10:34:19 AM

It is very obviously known that ether can not lead the alt season. There are many altcoins that win pump more than ether. But when the bear market comes, they will also dump more than ether.

According to most analysts, they think ether will not pump like how it did in 2021. This time is different. Also other coins are competing with ether.

I thought when we used the pump on a coin it means all those shit coins that their prices could go from zeros to 100 and back without pumping again, those are the real gambler coins, Ethereum is for sure the king of the altcoins, it may not have such huge price pump like the other coins who's volatilities are high, but Ethereum have constantly followed Bitcoin in all the trends, checks current Bitcoin market, you see s slit bull market, for Bitcoin and the price is headed 102,000 plus who's prices is closing in at $3,693 with a 1.85% positive market demands chart, which means that Ethereum is closing in on Bitcoin in demands and in no time it will get to Bitcoin position in terms of buy order pressure.

Accardo

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Quote from: Charles-Tim on January 06, 2025, 10:34:19 AM

It is very obviously known that ether can not lead the alt season. There are many altcoins that win pump more than ether. But when the bear market comes, they will also dump more than ether.

According to most analysts, they think ether will not pump like how it did in 2021. This time is different. Also other coins are competing with ether.

Wouldn't it be unrealistic to watch other alts doing great and eth on decline? The alt market is likely to grow together. The 2021 bull run for Eth was quite massive, and they could do it again with the right changes. Moreover eth still has lots of people who holds it, and while on top of other alts whatever growth on the altcoin market will make impact on Eth's price.

Charles-Tim

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It is very obviously known that ether can not lead the alt season. There are many altcoins that win pump more than ether. But when the bear market comes, they will also dump more than ether.

According to most analysts, they think ether will not pump like how it did in 2021. This time is different. Also other coins are competing with ether.

Sanitough

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Quote from: Accardo on January 06, 2025, 09:33:46 AM

And when that happens, it may work this way, since Bitcoin didn't enforce changes on alts, Eth might lead the alts bull run, I mean all other alts moving alongside Eth not Bitcoin anymore.

With all the changes being reported, will it actually solve the issue of ETH's high transaction fees? If not, I don’t see ETH leading the altcoin market anytime soon. When demand for ETH and its tokens spikes, the network tends to get congested, and those sky-high fees come back. At that point, investors might avoid transacting altogether because the fees are just too ridiculous to make it worth it.

Accardo

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Unexpectedly in this recent market observations, the bull season had little impacts on the number 1 altcoin Eth. Whatever is the reason to this backlog I'd have to add up few research of mine, according to this article, the main reason that affected the growth of Eth is the migration of projects like Uniswap, Polymarket, and Ens to another network, due to the eth gas fee and inability to scale. Additionally, the vitalik Buterin decision of moving the network to Layer 2 was criticised in same work as a fatal mistake - as it'll do no good for Ethereum. This was backed with the disadvantage of switching a project from different network, which dampens viral growth

However that's all with the writer's idea, there's a move to allow people to run nodes in the network - the integration of solo staking, and the reduction of the minimum Eth needed for participation from 32eth to 16 or 24eth. Vitalik's choice of making the network decentralized would convince investors to consider picking eth as a number 1 choice, also that's the reason why I should look into the argument of some analysts who think eth would move in 2025.

And when that happens, it may work this way, since Bitcoin didn't enforce changes on alts, Eth might lead the alts bull run, I mean all other alts moving alongside Eth not Bitcoin anymore.

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