Ethereum has failed to impress in the ongoing bull rally, faltering in its attempt to keep up with Bitcoin, which set a new all-time high this week. However, analysts believe it can still hit $4,000 by the end of the year. Solana has performed better to surge past $115 billion in market cap, while in the play-to-earn gaming sector, Yeti Ouro (YETIO) is capturing investor attention with its innovative utility memecoin.
Ethereum To 4,000 And Solana Hits $117 Billion Market Cap
Ethereum has gained 19% since November started, lagging behind peers like Bitcoin, which is up 35%, Solana, which has gained 40% and XRP, which has impressed with a 120% rise this month. In this bull run, Ether has hit a high of $3,420, which it couldn’t sustain for long before reverting to staying just above $3,000, where it’s still stuck. This has pushed its market cap to $380 billion, solidifying its position as the king of altcoins. Trading volume has also been impressive over the past two weeks, averaging $35 billion daily.
Analysts believe that $4,000 is still within sight for Ether this year. Some have pointed out that in every bull cycle, there’s a point when Bitcoin slows down its momentum, and Ethereum overtakes it to usher in the altcoin season.
As Ethereum underwhelms, one of its biggest rivals, Solana, has impressed. SOL has gained 40% in November to hit a local high of $248 and a $117.5 billion market cap. The Ethereum killer seems well positioned to overtake Tether to become the world’s third-largest crypto by market cap.
Solana has not only been outdoing Ethereum on the price charts. According to data from DeFiLlama, Solana has been performing better than Ethereum in terms of the fees generated, showing that its ecosystem has grown so significantly that it can rival the original smart contract chain. On Tuesday, for instance, Solana generated nearly $12 million in daily fees, while Ethereum only clocked $6.3 million.
Yeti Ouro Captures Attention In P2E Gaming
Elsewhere, Yeti Ouro has become one of the hottest projects in the memecoin space, capturing attention from investors in the play-to-earn (P2E) gaming sector. Yeti Ouro is built around Yeti Go, a thrilling game that pits players against each other for a reward paid in YETIO tokens.
In its ongoing presale, it has sold over 42.8 million YETIO tokens to eager investors who are keen to get in early on one of the coins being touted to gain 100X within the next year. Interest has especially been high this week as investors target the 20% bonus that will be available until November 25th.
Additionally, a recent behind-the-scenes video by the Yeti Ouro team has reignited interest in the project. The video introduces the team behind the game and shows the journey of building Yeti Ouro, capturing the dedication and passion of the team.
Yeti Go allows users to race against each other on a thrilling track. Players can attack each other with weapons bought at the in-game store with YETIO tokens while dodging multiple hazards and obstacles. The immersive game, built using the Unreal Engine, tests a player’s gaming acumen, quick reflexes and strategy, with the winners receiving their rewards in YETIO.
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