SOL - 2 Cryptos Primed to Outperform Ethereum in 2023
One distinguishing characteristic of this year's crypto market is just how much Ethereum (CRYPTO: ETH) has outperformed its biggest blockchain rivals. Yes, Ethereum is down 67% for the year, but have you seen how much its rivals are down? Former "Ethereum-killer" Solana (CRYPTO: SOL) is down 92%, while Avalanche (CRYPTO: AVAX) is down 88%.
In 2022, Ethereum benefited from a clear flight to quality as investors fled all the perceived risky names in the crypto marketplace to focus on trusted, established names like Ethereum. So there's definitely a case to be made that many of Ethereum's blockchain rivals will bounce back in 2023 once investors regain their risk appetite for crypto. Here's a closer look at why Solana and Avalanche can outperform Ethereum in 2023.
In 2022, Ethereum benefited from the hype and anticipation around the system upgrade known as The Merge, which was often described as one of the biggest events in crypto history. This narrative focused investors on the future potential of Ethereum and gave the crypto a boost in price during the summer heading into The Merge.
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2 Cryptos Primed to Outperform Ethereum in 2023