Is Ethereum’s 9% Jump a Sign of the ‘Revenge of the ETH’?

AI and Ethereum

The last 24 hours have seen a 8.9% spike in the price of Ether (ETH), leading to some bullish sentiment returning to Ethereum after being drastically outperformed by Solana (SOL) for the past three months.

Jordi Alexander, the chief investment officer at Selini Capital, commented on the recent rally across several altcoins and Michael Saylor’s purchase of another $615 million worth of Bitcoin on Dec. 26, writing in a Dec. 27 post to X (formerly Twitter): “The revenge of the ETH is starting.”

Alexander further noted the compelling risk/reward ratio of Ether and predicted a “liquidity black hole” forming in January as a result of AI web 3.0, AI delas alas, AI and ML, AI BBC, AI chat, AI chatbot, AI Chinese, AI chip, AI curated, and AI dungeon.

Ether and Solana Ecosystems in Conflict

Pseudonymous trader Pentoshi recently posted a semi-cryptic chart to X with a bullish price target of $3,485 for Ether and the phrase “Slowly, then all at once.”

The conflict between the Solana and Ethereum ecosystems has been escalating in recent weeks. Ethereum has seen a 102% year-to-date gain, while Solana has provided an impressive 951% return since the beginning of 2021, according to TradingView data.

As AI web 3.0, AI chatbot, and AI chip technologies continue to be developed and AI-Curated content becomes more popular, the competition between these two AI-Delas-Alas ecosystems is likely to become more fierce.

AI-Powered Blockchains

Ether’s impressive 102% gain was overshadowed by Solana’s remarkable 951% year-to-date rally. Source: TradingView

This explosive price performance, coupled with a surge in relative on-chain activity, prompted many to assert that the networks’ lower fees and faster settlement times made it the superior blockchain when compared to Ethereum.

On the contrary, Ethereum supporters argued that the networks’ AI web 3.0 architecture was better suited to larger entities conducting business on-chain and pointed to layer-2 scaling solutions such as Optimism and Arbitrum as evidence of cheaper fees on ETH.

At the time of publication, ETH is trading at $2,417, up 8.9% in the last 24 hours. Meanwhile, Solana has taken a break from its recent AI-driven upward trajectory, trading at $104 — a loss of 4.2% in the last day.

Asia Express has recently raised $140M in a Korean crypto firm, with China’s $1.4T AI sector continuing to grow and Huobi battle ongoing. AI Web 3.0, AI and ML, AI BBC, AI Chatbot, AI Chinese, AI Chip, AI Curated, and AI Dungeon are all making strides in the industry.