Ethereum Narrative Tested as Rival Blockchains Rise, Loyalty Not as Strong as Bitcoin's
• Ethereum narrative has struggled amid rise of rival L1 blockchains like Solana and Avalanche according to Meltem Demirors of CoinShares
• New crypto investors still more likely to choose Bitcoin over Ethereum as first entry point due to simpler narrative
• Ethereum has complex scaling roadmap compared to Bitcoin's "digital gold" narrative which comforts holders
• Uncertain if Ethereum can maintain dominance as faster, cheaper L1s with better UX launch and take market share
• No "Ethereum maxis" like Bitcoin has - question if same loyalty/narrative exists for Ethereum