What Happened To All The Ethereum Killers?

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I remember very well a year ago when Cardano and Solana were claimed to be Ethereum Killers. Many investors became bullish on them. They were fortunate to witness a surge in the price of some of them like Solana, but despite the surge in price, they weren't able to get close to Ethereum.

One thing we need to understand is that for a new blockchain to outperform an existing blockchain, the existing blockchain has to be reluctant with building more features and product or didn't start off well due to lack of use cases. Solana was promoted to be a strong competitor for Ethereum because it has the ability to offer the services present on the Ethereum network at a cheaper fee. It brought adoption to it but Ethereum didn't give up. They went on to start upgrading to Ethereum 2.0 where the issue of gas fee will be address. Again, to retain the huge number of users they have, the APR on Dapps on Ethereum network was made to be high.

Despite all the hype surrounding all new projects promoted to be Ethereum Killers, Ethereum is still at the number one spot when it comes to DEFI , especially when we look at the TVL.

WHAT AM I TRYING TO POINT OUT HERE?

We should always take time and analyze the hype of new coins. Many people are today suffering from FOMOing on the likes Cardano and Shiba as Ethereum Killers.

A new project might come with amazing features and use cases that will solve some of the problems of the existing blockchain, but the fact remains that it will take extra energy for them to outperform Ethereum which is the second cryptocurrency after Bitcoin. Just as no cryptocurrency can outperform Bitcoin in terms of adoption Despite not having good use cases, Ethereum has grown to an extent that projects and investors can't abondone it for any other project easily.

If Ethereum 2.0 becomes completed, and Ethereum migrates to Proof of Stake, nothing will stop Ethereum from leading other Projects for life. By this I do not mean that all those hyped coins are not legit after all we can see what Solana has been able to achieve but that we shouldn't see them as the so-called Ethereum Killers.