Ethereum (ETH), the world’s largest altcoin 
$2,472has faced major challenges as investors have been disappointed by its recent price performance. On the other hand, Layer-1 competitor Solana is gaining a lot of attention among investors thanks to its strong DeFi activity. Popular economist Alex Kruger explains why ETH is no longer a Trump trade and why he stopped betting on the altcoin altogether.
Investment Drama from Ethereum to Solana
Leading crypto analyst Alex Kruger recommends betting against Ethereum despite the possibility of Donald Trump’s presidential victory. Kruger noted that although the overall altcoin market turned positive following Trump’s victory, ETH has less chance of a rally.
“When an asset is expected to move up but moves in the opposite direction, that means the market is telling you something,” said Alex Kruger.
Investors Withdrawing from ETH Positions
Popular trader James Fickel is withdrawing his long positions after the ETH/BTC trading pair fell to its lowest level since April 2021. A few hours ago Fickel Wrapped 2,000 ETH in Bitcoin 
$67,091 (WBTC) and deposited an additional 20,000 ETH into Coinbase Prime.
James Fickel is rapidly reducing his ETH/BTC long position! 8 hours ago he swapped another 2,000 ETH ($5.06 million) into WBTC and deposited 20,000 ETH ($50.6 million) into Coinbase Prime. Still owes 980.2 WBTC ($65.4 million) on Aave.…
Buterin Defends Selling Ethereum
On the other hand, Vitalik Buterin defended the sales experienced from the Ethereum Foundation. His comments came while explaining Helios’ role in multi-chain Ethereum scaling. “We need to pay developers and other contributors in the ecosystem,” Buterin defended the Ethereum Foundation’s aggressive sales, saying.
Additionally, during the recent AI meme coin craze, Solana surpassed Ethereum in daily revenue. Kruger noted that SEC Chairman Gary Gensler could be removed from his post following the Trump victory, which would open up the opportunity for spot Ether ETFs to stake their ETH.
However, in such a case, Kruger predicts that Solana ETFs will be launched and Solana will maintain its leading position.
The fact that investors are shifting from Ethereum to Solana shows that the dynamics in the crypto market are changing. The lack of institutional interest in Ethereum’s ETF launches and Solana’s rising revenues play an important role in investment strategies. These developments draw the attention of investors in the cryptocurrency market to alternative projects such as Solana.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
