The famous crypto analyst Nicholas Merten commented on Ethereum (ETH) competitors Solana (SOL) and Avalanche (AVAX).
According to Merten, Ethereum’s success in recent years has made it a better benchmark than Bitcoin. For this reason, it makes more sense to compare Solana and Avalanche with Ethereum.
Looking at Avalanche, Merten says there could be a peak for AVAX against Ethereum after the massive rally over the past few months.
Talking about Solana’s price action against Ethereum, Merten states that the pair is in a downward trend after the big rallies in the last 18 months.