3 Reasons Why Ethereum Will Underperform Bitcoin in 2024 đš
đč #Ethereum's Struggle: Ethereum has underperformed Bitcoin in 2024, with ETH/BTC hitting a 40-month low. While Bitcoin is up 36% this year, Ethereum's price is virtually flat.
đ Key Reasons:
đș ETH/BTC Decline: Over the past 90 days, Ethereum is down 34%, while Bitcoin is down just 15%. Investors have favored Bitcoin ETFs, ignoring Ethereum.
đș Bitcoin Dominance Rises: Bitcoin's dominance rate has reached 58%, outperforming altcoins like Ethereum. More investment capital is pouring into Bitcoin, reducing support for ETH.
đș Onchain Activity Slows: Ethereum's daily active addresses and DApp usage have declined, while rivals like Solana and Tron are growing, indicating a decline in demand for ETH.
âĄïž What's Next?: Ethereum needs to increase network usage and transaction volume to recover.
