As the cost of gas for Ethereum (ETH) continues to increase, faster networks have migrated, but no one has been able, according to Weiss Crypto, to ‘kill ETH‘ yet.
Weiss Crypto has reported that in the current cycle, Ethereum has recovered strongly from its fourth market correction. Market analysis and risk rating company
ETH traded 4.3% each day and reached $2,400 again at the time of writing, and only 5.7% off the all times high (ATH). Conversely, Bitcoin (BTC) headed in the opposite direction, dropping 3.6 percent a day and trading at $53,750. Weiss said it.
“This powerful proof of number two cryptocurrency is a very reassuring sign of alternative investment crypt in this current altcoin season. Our call for the altcoin season is now doubling.
No ETH killers
The rating firm also claims that, although a large number of rival blockchains appear faster and cheaper to use, “Ethereum killers” will not exist for some time.
In its April 21, tweet, on other layer 1 networks that reach Ethereum, Weiss stated that “it was highly skeptical”
“Some people say other L1s ‘catch up’ to ETH, but we are very skeptical. This is the same 2017 story, where $ETH assassins sacrificed every appearance of decentralization as cheaper and faster.
The company added that many of these opponents don’t keep an eye on Ethereum and the only hope is to be a sidechain for ETH for some of these alternatives.
Weiss said that Ethereum’s rival blockchains, such as EOS and NEO, had not met their claim to “kill Ethh” during the last cycle.
Binance Smart Chain (BSC) is currently the largest rival to Ethereum, and has shown signs of a strain this week under increased demand. DEX Top DEX PancakeSwap commented that after users complain about failed transactions and errors, the BSC has been “overloaded.”
SIPETRI scientists say BSC can go the same way EOS does not necessarily solve problems of scalability by creating larger “pipes” for faster transactions. BSC has already been questioned about its centralization of the validator and can finally follow all the killers of Ethereum before it without upgrades for storage, computers and availability.
Ethereum gets an A-
At the moment, Weiss classifies ETH as A, which gives Bitcoin as well. Cardano (ADA), who is awarded a B- for technology and adoption, closes the competitor in the company’s ranking. Weiss says that Polcadot (DOT), which might be seen as a serious rival for Ethereum, has a C+.
