It has a history of bouncing back after sharp corrections. This isn't necessarily the time to dump Ethereum. Solana has had a challenging past month like Ethereum, but over the past year it has popped 35-fold compared with a 150% advance by Ethereum. It even overtook Solana in terms of market cap late last week. As the crypto market in general retreated over the holiday weekend, Cardano was one of the rare climbing digital currencies. In the same past 30 days that we've seen Ethereum surrender 20% of its value, we've seen Cardano climb by 20%. There are also concerns that, even after the transformation is complete, it won't make Ethereum faster or cheaper to use than Solana and Cardano are right now. No one will be surprised to see the goalpost moved again. Originally slated to happen in 2019, the next major phase of Ethereum 2.0 has been pushed out to June of this year. There are two sticking points that could be holding Ethereum back, and the first is that the shift to proof of stake is taking a long time to happen. The knocks on Ethereum - that the crypto is too resource draining to mine and too slow and expensive to move around - will grow quieter when the Ethereum 2.0 transition is complete. There are more than 3,000 popular decentralized apps built on top of Ethereum. Ethereum is the crypto world's platform of choice with its bar-raising blockchain technology, powering smart contracts and other digital applications. However, the bullish thesis for owning Ethereum in 2022 hangs largely on its upcoming migration to proof-of-stake protocols. Ethereum is a volatile beast, and historically it has favored the bulls. Naturally a lot can happen in the next two weeks. Ethereum has fallen roughly 16% month to date, challenging the 20% January decline it experienced three years ago. The world's second most valuable digital currency has appreciated by at least 35% in the first month of the year in all but one year since its debut in the summer of 2015: January has historically been a great time to own Ethereum. Objects in the mirror may be closer than they appear Smaller players led by Cardano (CRYPTO: ADA) and Solana (CRYPTO: SOL) are starting to catch up, and there's no doubt that those crypto investors see an entirely different "flippening" scenario playing out. Bulls are spending so much time looking through the windshield at Bitcoin that they're not paying attention to what's happening in the rearview mirror. Bitcoin isn't the only rival that Ethereum investors should be watching. The gap has actually widened over the past month, as Ethereum's 20% decline finds it falling behind Bitcoin despite the leading crypto's 10% slide in the same time frame. Ethereum, with a market cap of $373 billion as of Tuesday morning, would have to more than double to overtake Bitcoin at $786 billion. This will take place the moment that Ethereum overtakes Bitcoin (CRYPTO: BTC) in terms of market capitalization. There's a potential event that Ethereum (CRYPTO: ETH) investors are looking forward to, and it's called the flippening.
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