This Popular Crypto Trader Calls Ethereum Rivals 'Vaporware' And Says They'll Drop To Zero

A popular crypto trader, who goes by the name of Altcoin Psycho, has said that Ethereum ETH/USD challengers are "vaporware" and could drop to zero within a year. 

He recently said that the second-largest cryptocurrency’s vaporware layer-1 rivals that have been announced have yet to be fully developed and released. Adding that they will vanish within a year at most.

In a recent Twitter post, he said investors are misjudging the top smart contract platform’s ability to surge under the right market circumstances.

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“Also for what it’s worth, I don’t consider Solana, [Avalanche] or Cosmos to be vaporware… I believe the future is multi-chain…,” he added. 

In another post, Altcoin Psycho said that Ethereum’s upcoming merger to a proof-of-stake system with a proof-of-work consensus mechanism could not only be a catalyst that helps ETH surge, but also one that lends a helping hand to layer-2s built on top of the leading altcoin.

“What can we do with the information if we’re bullish on ETH? Well if ETH does well, then you know layer-2s on top of ETH will probably do really well as well,” he said. 

At the time of writing, Ethereum was trading at $3,236.36, 0.91% down in the last 24 hours and overall down by 6.50% in the last seven days. 

Also Read: Why Is Ethereum Classic Outshining Bitcoin, Ethereum Today?