By Nermeen Nabil Khear 
Ethereum’s value against Bitcoin has hit a new low, with the ETH/BTC ratio slipping to 0.027 — its weakest level in over five years, according to CryptoQuant data.
The downward trend began after Ethereum’s 2022 transition to a proof-of-stake network. Since then, its ratio against Bitcoin has plummeted by nearly 70%, reflecting waning demand compared to its larger counterpart.
Ethereum’s struggles have worsened since the approval of spot Bitcoin and Ethereum exchange-traded funds (ETFs) in the US. Bitcoin ETFs have seen inflows surpassing $40 billion and attracted strong institutional interest across the globe.
Meanwhile, Ethereum’s ETF products were approved later and have drawn significantly lower investments than BTC, further weakening its position.
Crypto analyst James Check, known as Checkmate, mpted that 77% of ETH/BTC trading days have been in negative territory. He described the recent drop as severe, reinforcing concerns about Ethereum’s fading momentum.
The post Ethereum loses momentum, falls to 5-year low against Bitcoin appeared first on CryptoSlate.
Ethereum’s value against Bitcoin has hit a new low, with the ETH/BTC ratio slipping to 0.027 — its weakest level in over five years, according to CryptoQuant data. The downward trend began after Ethereum’s 2022 transition to a proof-of-stake network. Since then, its ratio against Bitcoin has plummeted by nearly 70%, reflecting waning demand compared
The post Ethereum loses momentum, falls to 5-year low against Bitcoin appeared first on CryptoSlate.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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