![Ethereum [ETH] fared better than SOL, NEAR, AVAX on YTD basis, thanks to…](https://i.headtopics.com/images/2022/12/29/cryptoamb/ethereum-eth-fared-better-than-sol-near-avax-on-yt-ethereum-eth-fared-better-than-sol-near-avax-on-yt-1608214456605020161.webp)
Ethereum [ETH] fared better than SOL, NEAR, AVAX on YTD basis, thanks to...
showed. Of the Alt L1s listed above, SOL has suffered the most decline, with a 94% drop in its value.
The recent controversy surrounding Solana and its ties to disgraced-founder Sam Bankman-Fried has also contributed to a decrease in SOL’s value. In addition, in the past week, the network saw leading NFT projectstheir intentions to migrate to Ethereum and Polygon, all of which have brought Solana’s longevity into question.to the Near Protocol in the coming year that many anticipate will lead to a rally in NEAR’s value.
It was noted that the most notable impact of the switch to PoS for Ethereum was the change in ETH’s supply dynamics. After the Merge, ETH’s supply inflated by only 3,800, compared to the 1.2 million inflation that would have occurred if the network had continued to operate under Proof-of-work consensus. In this regard, Blockworks Research found,
“In other words, over $1.5B of sell pressure has been removed from the market as a result of the Merge in under just four months,”Subscribe to get it daily in your inbox.
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Assessing whether or not Ethereum’s [ETH] price will fall below $1000A decline in ETH’s Transaction Count metric suggests that it might touch $1000 in the coming year. On-chain assessment confirmed the prolonged decline in market activity. With a consistent decline in new demand for leading altcoin Ethereum [ETH], its price might fall below the $1000 mark, CryptoQuant analyst Greatest Trader opined. Read Ethereum’s [ETH] Price Prediction 2023-2024 […]
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