Ethereum (ETH) To Succumb To Diminishing Hype In 2024, But New All-Time Highs Remain Likely; Look No Further For Imminent 10x Returns: Why Lunex Network (LNEX) Is Set To Rally By 100% In December

Despite its status as the top layer-1 blockchain, Ethereum is losing favor among crypto investors due to its technological drawbacks. Some analysts

As the cryptocurrency market continues to bear the brunt of the bear market, several digital assets have experienced a downturn in hype and momentum. Among them, Ethereum, the second-largest cryptocurrency by market capitalization, appears to be losing favor due to its high gas fees and slow transaction speeds.

While many still expect ETH to achieve new all-time highs this cycle, some analysts believe that the enthusiasm is waning and that Ethereum could face competition from faster and cheaper layer-1 blockchains like Solana and Sui in the long term.

According to CoinMarketCap, bearish sentiment on Ethereum has decreased slightly, now sitting at 47% compared to 70% in October. Meanwhile, some good news has emerged with the introduction of Ethereum ETFs into the market. This development could provide some bullish momentum for Ethereum in the short term.

However, some analysts remain pessimistic about Ethereum’s long-term prospects, predicting that it will experience a “slow death” as its competitors gain ground. Others still believe that Ethereum could experience another massive bull run, albeit to a lesser extent than the 2021 mania.

Insiders believe that institutional adoption will play a crucial role in determining the strength of the next bull market, which is expected to be smaller in magnitude than the previous bull run. Despite its technological shortcomings, Ethereum is still expected to maintain its position as the leading layer-1 blockchain.

According to technical analysis, some analysts predict that Ethereum could peak at around $5,500 during this bull run. More bullish projections place Ethereum's ceiling between $6,000 and $8,000, while bearish forecasts see it topping out closer to $5,000.

Some experts believe that Ethereum could reach as high as $10,000, but most agree that it will likely surge 2-3x from here. As always, proceed with caution and good luck!