Ethereum dey face strong competition as Solana don overtake for developer growth and user adoption for changing blockchain environment

Ethereum dey undergo big structural upgrade dem and dem try change how dem self sabi, like modular architecture, Layer 2 expansion, plus dis ’Trillion Dollar Security Initiative,’ wey dem want use make di blockchain secure and fit scale well. But even with all these tech upgrade and ways to draw institution investor dem through US spot Ether ETFs, Ethereum (ETH) no dey move well again. Since di Merge upgrade for 2022, ETH dey perform worse pass Bitcoin (BTC), and di ETH/BTC ratio dey steadily dey fall. Recent Dencun upgrade dem shift network work and how transaction cost fit reduce go Layer 2, wey make on-chain ETH burning reduce and the deflation appeal of ETH no too dey. At di same time, Ethereum ecosystem dey look fragmented, wey dey push developers and users go other blockchains. Solana (SOL) on the other hand don see sharp increase for developer numbers (up 83% for 2024), because e get low fees and better user experience—this one dey mostly attract young people wey like speed and dem dey interested in memecoin and new projects. Price for Solana don reach new heights, while Ethereum price still dey flat. The move of users and developers go Solana show say e dey get more popular. Spot Ether ETFs for US get net outflows, but Bitcoin ETFs dey get strong inflows, confirming say BTC na top choice for institution investors; even big big company dem like MicroStrategy dey focus on BTC no be ETH. For crypto traders, this one mean say competition dey change: Ethereum don change from dey launch many products to focusing on better protocol and security, which dey delay price moves. Meanwhile, Solana adoption and activity dey challenge Ethereum’s top position, showing story of market wey dey change, which fit affect long-term value for both crypto assets dem.