The article discusses the recent decline of Ethereum in comparison to Bitcoin, which has led to Bitcoin’s market cap dominance rising to over 57%. The article presents some of the reasons behind Ethereum’s weak price action, such as controversies surrounding its founder, Vitalik Buterin, the Ethereum Foundation’s selloffs, and a wider industry trend. However, the article emphasizes that there is no inherent problem with Ethereum, Vitalik, or the foundation, and that other top altcoins are also underperforming against Bitcoin. The author concludes that this could be a wider altcoin trend that will eventually break once “altcoin season” begins.
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