The value of Ethereum relative to Bitcoin has reached its lowest point in over four years, indicating significant underperformance. Ethereum has declined by approximately 13.8% against Bitcoin in the past month and more than 70% since September 2022. However, there is a mildly positive sentiment for Ethereum in the medium to long term, according to analysts. On-chain indicators suggest a declining trend for Ethereum, partly due to its inflationary nature and growing supply. Ethereum has also fallen in fee revenue and has been underperforming compared to Bitcoin, with less demand from ETFs. The Ethereum ecosystem is facing challenges such as declining network participation and internal tensions among organizations involved in its technical development. The upcoming Pectra upgrade in March could potentially reverse Ethereum's downtrend.



Other News from Today