"Despite Volatility" - talk about an understatement, it's more like MARKET WILD WEST.

Most people investing in ETH only did it as a quick solution to BTC's volatility, without really understanding the difference.

Are we not comparing APPLES and PEARS here? these things are really very different from each other. BTC will never really change fundamentally but ETH has way more options for application and is not really trying to achieve the same purpose as BTC, they are different.

I think we over complicating the matter here. As the current CRASH of ETH and BTC is clear today, it's obvious that the people who bought them did it for other reasons than being great technology, but more as a reaction to the market.

Currently people are feeling optimistic about the financial markets, so they have moved their money out and into bonds and stocks again.

The important observation is that, if the markets get "spooked" again crypto is eligible to be used as a leverage again the current banking system.

Secondly the current trading platforms are not able to keep up with the demand and so if their is a panic "buy" then the price will double in no time.

Thirdly, there does not seem to be a panic "sell" in the market, the foundation of crypto has been established and there it's not going to disappear, people are learning to trust crypto.