Michael Saylor argues that investor confidence in Ethereum (CRYPTO: ETH) has collapsed as the token fights Solana (CRYPTO: SOL) and BNB (CRYPTO: BNB) in a battle that has drained all three of their monetary premium.
Saylor Says Bitcoin Dominance Climbed From 41% To 70% While ETH Lost Its Premium Excluding stablecoins, Bitcoin's (CRYPTO: BTC) market dominance climbed from roughly 41% in 2021 to nearly 70% today, Saylor said at the Bitcoin Corporate Day event on June 15.
ETH, SOL, and BNB have competed so intensely against each other that none retained a monetary premium, meaning each now depends purely on utility to justify its valuation.
Saylor framed the past 12 months as confirmation of three things: Bitcoin's dominance as a digital monetary network, its role as digital capital, and the viability of digital credit.
His comments arrive as ETH is on track for three consecutive red quarters for the first time in its history.
