Ethereum's value relative to Bitcoin, as measured by the ETH/BTC ratio, has dropped below 0.04 BTC for the first time in three and a half years. Ethereum has long been seen as a potential rival to Bitcoin for the top spot in the cryptocurrency market, but it has never surpassed Bitcoin in market capitalization. Despite the excitement around DeFi and NFTs in 2021, Ethereum has been unable to overtake Bitcoin. The recent transition of Ethereum from proof-of-work to proof-of-stake has also seen a significant decline in the ETH/BTC ratio. Some experts predict that the price of Ether could drop even further in relation to Bitcoin.



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