📉 The Dollar Ratio of Ether to Bitcoin Falls to a 3-Year Low

The BTC/ETH pair fell to $0.04563 during yesterday's trading session. The last time this ratio was at such a low level was in April 2021. Additionally, investment demand for exchange-traded products linked to Ether has sharply decreased.

According to Bloomberg, the outflow from sector-specific products exceeded $63 million last week. Investors have also been actively withdrawing capital from spot Ethereum ETFs, which were recently approved in Hong Kong.

There remains uncertainty regarding the approval of an Ether ETF in the U.S. Increasingly, experts are skeptical that the SEC will approve this instrument in the near future. For instance, traders on the Polymarket platform estimate the probability of sector-specific funds appearing by the end of May at only 10%.

At the same time, Ethereum faces strong competition from the likes of Solana, which is gaining popularity. Solana's share of the total volume of decentralized exchanges has increased tenfold from 2% to 21% over the past year, significantly impacting Ethereum's position. 🔥