Over the past three months, during the upward trend in the cryptocurrency market, Solana managed to outperform Ethereum in gains. However, a 8.9% increase in Ethereum’s price in the last 24 hours has led to signals of investors returning to Ethereum. At the time of writing, Ethereum is trading at $2378, and we are examining what is expected in the coming days.
Noteworthy Target for Ethereum
Jordi Alexander, the chief investment officer of Selini Capital, stated on December 27th via X that “Ethereum’s revenge is starting,” a post that managed to catch the crypto community’s attention.
Alexander referred to several altcoin rallies and Michael Saylor’s purchase of $615 million worth of Bitcoin on December 26th as solid foundations for an upward move in Ethereum’s price in the coming weeks:
“The risk/reward in Ethereum here is so compelling that I see a liquidity black hole forming in January.”
Popular investor and analyst Pentoshi added to the bullish target for Ethereum, making a notable post via X with a price target of approximately $3,485.
Solana and Ethereum Advocates Face Off
The tension between community members advocating for the Solana and Ethereum ecosystems has reached a notable point in the last few weeks. According to TradingView data, while Ethereum has gained 102% in value since the beginning of the year, its price performance has been overshadowed by Solana, which has seen a significant gain of 951% since the start of the year.
This significant price performance and the number of transactions in the ecosystem have led many to claim that Solana’s lower fees and faster payment times make it a superior blockchain compared to Ethereum. Recent airdrop events and the memecoin hype in the Solana ecosystem have helped spread these types of thoughts more widely.
However, Ethereum supporters argue that the architecture of the networks is more suitable for larger organizations operating in the ecosystem and point to Layer-2 scaling solutions like Optimism and Arbitrum as examples of cheaper fees on the Ethereum network.
