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Analysis: Ethereum Underperforms Bitcoin by 44% Since Transition to Proof of Stake

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According to CryptoQuant analysts, Ethereum has underperformed Bitcoin by 44% since its transition to a proof-of-stake consensus mechanism. The analysts added that despite the approval of Ethereum spot Exchange-Traded Funds (ETF) in the U.S. on July 23, Ether’s performance has continued to lag behind Bitcoin. The ETH/BTC price is currently at 0.0425, its lowest level since April 2021.

The analysts also suggested that Ethereum may experience further declines relative to Bitcoin, stating: “We estimate that Ether would need to drop to around 0.02 of Bitcoin’s price, or by 50%, to enter the undervalued zone.”

Disclaimer: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.

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