Two Prime Ditches Ethereum for Bitcoin, Citing ‘Meme Coin’ Behavior
Two Prime has ceased all exposure to Ethereum (ETH) and will focus solely on Bitcoin (BTC), citing ETH's unpredictable behavior, declining market momentum, and diminishing institutional appeal. The firm criticized ETH's risk-reward profile as "unjustifiable," stating it now trades like a meme coin rather than a reliable asset. Ethereum is currently priced at approximately $1,833, reflecting a 51% decline year-to-date, while Bitcoin is trading near $97,000, having gained 2.7% this year. Market predictions indicate an 82% likelihood that ETH will finish below $1,900 soon. Two Prime also highlighted the superior appeal of blockchains like Solana and criticized Ethereum's Layer-2 solutions for undermining the mainnet's value. The firm concluded that Bitcoin offers unmatched predictability and scalability compared to Ethereum. In response to these challenges, the Ethereum Foundation appointed two co-directors to enhance its operational structure.
