Almost crypto asset has also lost the value as compared to the Ethereum. It consists of Layer which is challenged with the dominance. However, little is quite spare in the market dip for more than last few months. On the other hand, alternative Layer 1 has smart contract platforms which have also fared specifically poorly against the Ethereum.
Rather than critics and problems, Ethereum stays to be leading protocol of decentralized. Among, the sustained correction of crypto market that starting November. Several, among Layer 1 with platforms of smart contract meant to compete Ethereum that has depressed with regard to price. Though, Ethereum is down, it also has not fared quite much poorly with protocols that is designed to challenge.
Ethereum Against Bleeding
Here, Ethereum might also be struggling with rest of crypto market, however it is also holding the much strong relative for their core competitors.
Ethereum has reach their all-time high which has their predecessor of digital asset Bitcoin. It has also been soaring. As then, it is also fallen to about $2,350 at the press time. It also represents almost 52% of the decline from the all-time high. Though, such kind of pales in comparison with damage that done to holders of various alternative Layer 1 platforms of smart contract.
Solana that emerges in year 2021 as the main competitor with Ethereum that also reached to the all-time high of about $260 prior that reached their own.
Cardano has also fare to be bad and even worse. Moreover, Polkadot, is the competitor such as Cardano, found by the co-founder of Ethereum, hit $55 previous November. Though, it is also now trading for under $12. This is the 79% loss, rather than project having attain various different key milestones in the roadmap, like launching of the parachains.