Ethereum has faced renewed fear and uncertainty as investors appear to rotate into Solana (SOL), causing ETH's price to weaken considerably against Bitcoin (BTC). The ETH/BTC ratio has dropped to its lowest point since April 2021, reflecting increased bearish sentiment towards Ethereum, which has fallen around 9% since hitting a two-month high of $2,760 earlier in the week. Meanwhile, Solana's price has surged approximately 17% within the last week and has gained nearly 600% against Ethereum since 2023, supported by a growing interest in memecoins. Discussions about Solana potentially flipping Ethereum's market cap are circulating, but Solana's current market cap stands at $82 million compared to Ethereum's $300 million. Ethereum advocates defend the network's decentralization and institutional adoption despite criticisms regarding user experience and development speed. As Ethereum struggles, many view the underperformance as a driver of negative sentiment, highlighting a broader market realignment that reflects current economic activities in the crypto space.

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