$BTC $ETH **đ Ethereum's Struggle Against Bitcoin's Dominance Continues đ**
In recent analysis, it's noted that Ethereum's value compared to Bitcoin, represented by the ETH/BTC metric, hasn't rebounded from a downward trend over several years. According to Tuur Demeester, a prominent Bitcoin advocate, this metric has seen a significant decline, dropping by 36.4% over two years and 27.9% in the past year alone.
**đĄ Transition to Proof-of-Stake Takes Toll on Ethereum's Position đ**
This decline is largely attributed to Ethereum's transition to a proof-of-stake (PoS) consensus mechanism about 18 months ago.
This shift left Bitcoin as the primary cryptocurrency using the proof-of-work (PoW) consensus. Despite criticism of PoW by Ethereum's founder, Vitalik Buterin, for its centralization vulnerabilities, Ethereum now boasts over 1 million active validators in its PoS ecosystem.
**đ Mixed Predictions for Ethereum's Future Performance âïž**
While some remain optimistic, suggesting potential growth of 76,000% over a decade, others like veteran trader Peter Brandt foresee further declines, with predictions indicating a potential 57% drop in the ETH/BTC ratio over the next three years.
