Post-Merge ETH Price Growth 44% Below BTC
CryptoNewsTerminal Staff05 Sep, 2024
Post-Merge ETH Price Growth 44% Below BTC
Post-Merge Ethereum (ETH) Price Increase 44% Lower Than Bitcoin (BTC)
Introduction:
Two years post-transition to Proof-of-Stake (PoS), Ethereum (ETH) has witnessed a significantly lower price surge compared to Bitcoin (BTC), according to a CryptoQuant report cited by The Block.
ETH Underperformance:
CryptoQuant's lead analyst, Julio Moreno, highlighted that ETH's price weakness extends beyond BTC to include altcoins like SOL and BNB. He attributed this to ETH's continued undervalued status, with the ETH/BTC ratio needing to drop by approximately 50% to reach a fair valuation level.
Network Fundamentals as a Factor:
CryptoQuant also suggested that ETH's poor price performance could be linked to declining network fundamentals. However, the report did not provide specific details on these fundamentals.
