For the next few years, Ethereum is still strong and seems irreplaceable. However, in the next cycle of 4 years, we will see whether there are altcoins that will approach Ethereum and compete with Ethereum. Because if Ethereum dev does not immediately have a good breakthrough, it is likely that competitors will soon catch up.
Right now, when we talk about market leadership, Xrp is Eth's biggest competitor because its ecosystem is driven by the giant Ripple. Meanwhile, looking at the blockchain platform itself, Sol is the one really challenging ETH's position. Sol's liquidity, trading volume, and developer community are all growing super fast, and it could definitely overtake ETH next season if Eth doesn't upgrade in time.
The EF has a lot of plans to keep developing the platform, so for now, Eth will probably hold onto its #2 in the market despite the lower transaction numbers and token inflation. We also shouldn't rule out the possibility of the ETH price growing soon if altseason kicks off! Whales are accumulating ETH, and they're not just doing it for fun
