ETH is just so tough that many said good altcoins are trying to dethrone it. The point of them is no longer to dethrone bitcoin but to dethrone ethereum because it is what the big ecosystem for most altcoin projects are circulating. With smart contracts, the other projects that came from it had also made something for themselves. Asset wise, I'm holding it and I am long term to it and that's why until the upcoming bull I'll slash a bit from my holdings.
mainly because current trend always centered or revolve around ETH, the fact that some of the biggest new project is just plainly modifying that EVM a little bit and call it an innovation means that ethereum is just that good, the amounts of L2 deployed these days could only mean that people are so hell bent on trying to focus on solving the ethereum gas fee by releasing their own side chain which means demand for ethereum is gonna be rising meanwhile they also trying to make token as a side business I guess for their released L2.
the funding and the amount of eth bridged added with the amount of the ethereum locked has made ethereum have significant advantage if compared with it competition.
even the gap between ethereum and BNB is really far, knowing that BNB is also one of the most used blockchain aside from ethereum as well as having 4th biggest market capitalization
or at least 3rd market cap if stablecoin is put out of the competition here since we know its stablecoin.
thats just how big ethereum is, so many project centered around it and even if ethereum itself has really high gas price just for sending the simplest transaction people still latch onto it
and would still execute the transaction anyway like there's no tomorrow.