ANALYSIS: Ether Underperforms Bitcoin by 44% Since Shift to Proof of Equity
Ether has underperformed Bitcoin by 44 per cent since the move to proof of equity, according to analysts at CryptoQuant. Even after the approval of the Ether Spot Exchange Traded Fund (ETF) in the U.S. on 23 July, ethereum has continued to underperform bitcoin, with the ETH/BTC price currently at 0.0425, its lowest level since April 2021, the analysts added. CryptoQuant analysts added that Ether could fall further relative to Bitcoin: ‘We estimate that Ether would need to fall to around 0.02 of Bitcoin, or 50 per cent, to enter the undervalued range’.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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