Despite being up nearly 50% for the year, Ethereum (CRYPTO: ETH) seems to have fallen out of favor with investors. While other cryptos have been soaring in value of late, Ethereum has not. Currently trading at just under $1,800, Ethereum has repeatedly failed to surge past the $2,000 price mark this year and is now significantly underperforming Bitcoin (CRYPTO: BTC).

All of which makes Ethereum an intriguing investment right now. It's still the second-largest digital asset in the world (trailing only Bitcoin), and there are at least two good reasons Ethereum's price could start to move upward as we head into 2024.

First and foremost, Ethereum is still the 800-pound gorilla of the blockchain world. Ever since it pioneered the concept of smart contracts back in 2015, Ethereum has consistently been the first to market with just about every new blockchain innovation. And that has given Ethereum an enviable first-mover advantage in key areas such as non-fungible tokens (NFTs) and decentralized finance (DeFi).

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Source Fool.com