Ethereum Faces Uncertain 2026: The Missing Ingredient(s) To Catch BTC

Ethereum (CRYPTO: ETH) sits at the centre of one of crypto’s longest-running debates: does it function as a true form of “cryptomoney” like Bitcoin or primarily as a technology platform token with weakening fundamentals?

What Happened: In early 2025, sentiment toward ETH collapsed as it underperformed Bitcoin (CRYPTO: BTC), briefly fell behind XRP (CRYPTO: XRP) in fully diluted valuation, and lost Layer-1 fee share to competitors like Solana (CRYPTO: SOL)

Messari’s Crypto 2026 report stated that …

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