Weiss Crypto Ratings confirms Ethereum is still the boss By BTC Peers – Investing.com

Weiss Crypto Ratings confirms Ethereum is still the boss By BTC Peers – Investing.com

Weiss Crypto Ratings confirms Ethereum is still the boss

The narrative that high gas fees are making impractical to use is not new. Traders are being forced to look for alternatives in blockchains such as Binance Smart Chain. However, Ethereum's inherent limitations do not mean it can be easily toppled, at least, not according to Weiss Crypto Ratings.

Amid Ethereum's rising popularity and the DeFi/NFT boom, the network's transaction fees have surged to new levels. The average transaction fee currently sits at nearly $22 after reaching an all-time high of $38.2 on February 23, 2021.

In the face of Ethereum's rising gas fees, several alternative projects are battling to establish themselves as a better option. Some have even earned the now cliché title of “Ethereum Killer.” The real question remains whether any of these alternative projects can unseat the king of altcoins.

Experts are not sureWeiss Ratings, a market analysis and risk rating firm, is not sure that any of the “wannabe” Ethereum Killers will be able to do the job. In a recent tweet, the crypto branch of the firm, Weiss Crypto Ratings explained that it is highly unlikely that an Ethereum Killer will emerge.

For clarity, L1 refers to layer 1 blockchains.