I heard its gaining momentum, but is it really a valid competitor to BTC? Will just flatten out like litecoins eventually?
You seem to be quite new in altcoin sector, ethereum is quite different than bitcoin and both can exist parallely however if you go through recent news about eth, more than 3million eth has been hacked from DAO token platform, and fear of that eth coming to market is causing so much panic and price dumping right now.