Ethereum price rallies toward key resistance but is ETH’s strength sustainable?
1 min read
Ether (
Take Solana (SOL) as an example: its entire TVL, encompassing projects like Marinade Finance, Jito, marginfi, Solend, and Orca, is currently valued at $671 million. This stark contrast highlights the edge Ethereum’s layer-2 solutions have over its competitors, such as Cardano (ADA), BSC Chain (BNB), and Avalanche (AVAX), blockchains primarily focused on native scaling solutions. However, Ethereum’s approach, leveraging layer-2 technologies, seems to have gained more traction and user trust, as evidenced by its growing activity.
In essence, Ether’s recent push towards the $2,100 resistance level is largely influenced by the anticipated approval of spot ETFs in the U.S. and the increased market share in decentralized applications.
The ongoing evolution and appeal of Ethereum’s layer-2 solutions, which mitigate high transaction costs, are also playing a crucial role in attracting users and sustaining Ether’s positive market trajectory.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
