Ethereum’s struggles in recent months have sparked discussions among industry experts, with Sonic Labs co-founder Andre Cronje offering his perspective on the network’s lackluster performance.
He attributes the decline to growing competition from Solana and Tron, as well as Ethereum’s own internal challenges.
Cronje believes that Ethereum’s ecosystem is being undermined by Layer 2 solutions, which he claims are fragmenting liquidity and relying on centralized sequencers.
Additionally, he points to heavy sell pressure from USDe and an inefficient scaling roadmap as contributing factors to ETH’s weak price action. In his view, Ethereum lacks strong technical leadership, with its most vocal supporters being podcasters rather than developers actively working on improvements.
The competition from other blockchains is another key reason for Cronje’s skepticism. He argues that networks like Solana and Avalanche are attracting more developers by offering better performance and direct support for projects.
In ”contrast, Ethereum’s neutrality may be driving builders away. Given these factors, Cronje states that if he were to invest in crypto, he would favor Solana, Tron, and XRP over Ethereum.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
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