The “Murderer of Ethereum” story (or Ethereum KillerEnglish) has lost strength over the years, not only at the technical level but also at the market.
The term refers to projects such as Solana, which have gained much attention for its potential to overcome Ethereum in scalability, speed and cost. However, although we have registered certain advances, we have a native cryptocurrency They were unable to maintain sustained control over the ether (eth)which continues to lead to operational volume and market trust.
This is reflected in the world’s largest exchange, the binance trading data, which corresponds to the period from January 2023 to May 2025, revealing that ETH has gained a larger market share.
Control is the proportion of the amount of operations that assets represent with respect to the overall market. In this case, the ETH control of Altcoins trading on Binance shows how much the total trade in Altcoins is concentrated on ETH.
When your advantage rises, ETH means that the competitors will fall, or that amount or as in this case – its amount or as in this case – its increase portion of these operations.
To be precise, a cryptographic specialist, an analytics company On-chainthey point out that it will increase The control of ETH is not due to the explosive growth of its own volumeRather, it would be a strong contraction “in the trading activities of the remaining altcoins.”
This report comes with a graph showing the trade volumes of ETH (orange) and other altcoins (green). The vertical values represent billions of dollars in trade (The sign (In English), the horizontal axis indicates the period of the month.
As analysts have marked it, the volume of ETH operations “had remained stable ($300 billion to $490 billion), while that of other tokens fell below $400 billion in mid-2025 from a peak of $1567.2 billion in November 2024.”
This indicates a significant decrease in trading interest and activity in altcoin. ETH maintains operational capacitycontributes to increased participation or relative advantage within the market.
For experts, we believe that the domain is “not primarily due to its own dramatic growth, not the withdrawal of its competitors,” so think of it as “ETH’s stability and integrated reputation have strengthened its position in relation to other digital assets.”
This shift in market dynamics is a sign that investors are prioritizing assets by increasing liquidity and lowering awareness of risk. If ETH prices are far from the past maximum (ATH) of $4,890reached November 2021 as observed in the following graph.
In other words, investors are focusing on ETH, moving away from low market capitalised altcoins in an environment characterized by macroeconomic uncertainty and low risk appetite. Low liquidity and low operational capacity These assets are usually more volatile And they are vulnerable to sudden capital exits.
In that sense, experts emphasize: “The stable volume of ETH trade in such a context shows greater confidence in infrastructure and long-term potential by investors. This stability is typically consistent with technological advances, such as network updates, growth in a decentralized financial ecosystem (defi), or forecasts of funds (ETFs) cited on exchanges.
This fragment has some issues to highlight. On the one hand, the fact that Ethereum has recently implemented a recent network update as a crime completed on May 7th. As reported by Cryptonotics, these are 11 proposals that promise to improve user interaction, optimize the validation factor experience, and optimize the scalability of layer 2 (L2) solutions.
Meanwhile, ETH has several ETFs launched in the US in July 2024 on the market. These are usually attractive products for corporate investors as they are regulated by the Stock and Value Committee (SEC). Since launching to the market, these devices have won over $4,000 million.
For this reason, experts argue that the ETH domain is “based on sustained confidence and stable performance” rather than explosive growth.
The decline in Altcoins’ operational volume reflects the lack of technical interest as a narrative. «Ethereum Killers» They are not fulfilling their mission as “hitmen.”