Dan Held argues that Ethereum faces challenges as both sound money and contract platform
@danheld: Ethereum's challenges in the crypto cycle
Ethereum finds itself at a crossroads in the current cryptocurrency cycle.
Despite its widespread usage and potential, critics are questioning its role both as 'sound money' and as the premier smart contract platform. This skepticism has been echoed by notable figures in the crypto community, such as Dan Held, who suggests that Ethereum lacks a defensible narrative. Over the past three years, the ETH/BTC pair has seen a steady decline, supporting the notion that investors may be seeking alternatives. Meanwhile, Solana (SOL) offers a challenge, having risen sixfold from its cycle lows against Ethereum, further intensifying the competitive landscape. This raises crucial questions for Ethereum's strategic direction and its capacity to adapt in a rapidly evolving market.
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In the previous news, Dan Held discussed the heightened FUD surrounding Bitcoin due to supposed manipulations by "Willybot" on Mt.Gox in 2013 and 2014, despite the lack of concrete evidence supporting these claims.
