Ethereum has become Bitcoin’s biggest competitor by offering programmable money and smart contracts. This has led to other cryptocurrencies emerging as rivals to Ethereum, and new technologies that promote innovation, scalability, decentralization, and security have challenged Ethereum’s dominance. Some of these competitors have made significant gains in the past few years. Crypto expert Vinicius Barbosa says one could make a significant breakthrough in 2025.
Ethereum Competitors and Their Performance
These Ethereum competitors are likely to perform well in the coming year. However, these competitors have limited growth potential compared to those with smaller market caps. Additionally, projects like Solana (SOL), Toncoin (TON), Cardano (ADA), Avalanche (AVAX), Near Protocol (NEAR), Sui (SUI), and Aptos (APT) are facing challenging factors that are weighing on their value and potential due to high supply inflation and unlocking issues.
In this context, a promising and yet undiscovered Ethereum competitor with great growth potential for 2025 draws attention. If expectations come true, it could provide investors with a 10-fold return by increasing $ 100 to $ 1,000. This competitor is MultiversX (EGLD), formerly Elrond, which Justin Bons describes as "the most technically advanced Blockchain today." In particular, the eGold (EGLD) token has a theoretical maximum supply of 31.4 million EGLD. This Romania-based Ethereum competitor stands out as the "technological Holy Grail of crypto" by offering advanced features and user experience.
MultiversX offers features like highly scalable adaptive sharding, secure Proof-of-Stake (PoS), native assets, cross-chain interoperability, on-chain two-factor authentication (2FA) security, optional gasless transactions, and maximum extractable value (MEV) protection. The team aims to increase transaction efficiency by aiming to implement sub-second block times on its roadmap. House of Chimera reported “renewed growth” for MultiversX based on network metrics on Friday, October 4. The chart showed that the decentralized exchange (DEX) trading volume rose to $4.5 million and the number of daily active addresses rose to 30,300.
MultiversX’s native token has failed to make a potential breakout move, trading at $25.23, down 16% over the past seven days. This decline comes as the overall cryptocurrency market has collapsed. Over a longer time frame, EGLD has seen three lower highs and a deviation from six-month downtrend resistance. However, it made a local bottom on August 5, and then two higher lows, currently at bullish trend support.
This would make EGLD a cryptocurrency with a market cap of $700 million, currently ranked 96th. A 10x increase would put MultiversX at the same market cap as Chainlink (LINK), which recently announced a mutual integration. The bearish trend that has been prevalent over the last six months has, interestingly, started to affect long-term Ethereum investors who are unloading their positions. Analysts are warning that altcoin season is “just around the corner.” There is no guarantee that MultiversX will deliver the expected returns, but investors are already starting to position for 2025.
