Ether (ETH) has reached its lowest level against bitcoin (BTC) since March 2021, dropping to 0.03 BTC on Sunday. This is nearly 50% lower than a year ago, while bitcoin continues to soar, reaching a record high above $109,000. Ether has gained just 40% over the past year, compared to bitcoin's 160% return. The value proposition of ETH has been declining, and it tends to rally when there is optimism about the Ethereum blockchain and decentralized finance (DeFi) applications. However, it weakens when traders prefer Bitcoin or other blockchains. Despite this underperformance, Ethereum continues to attract institutional investors and maintain strong appeal. Bitcoin has also been outperforming traditional assets, as its price has now reached 40 oz. of gold and its market cap compared to gold is 11.4%.



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