**Ether Struggles as Bitcoin Soars in 2024**

Ether (ETH) is having a rough year, trading at a 40-month low against Bitcoin (BTC). While Bitcoin has surged about 36% in 2024, Ether is barely above its January 1 opening, up just 0.02%.

**Key Points:**

- **ETH vs. BTC:** Over the last 90 days, Ether has dropped 34%, while Bitcoin only fell 15%. The ETH/BTC ratio hit a multi-year low of 0.04057 on September 11.

- **ETF Impact:** Bitcoin ETFs have been more successful than Ethereum ETFs, with BTC ETFs influencing 8% of spot volume compared to ETH’s 1%.

- **Market Dominance:** Bitcoin’s market dominance reached 58% in August, indicating stronger investor confidence in BTC over altcoins like Ether.

- **Onchain Metrics:** Ethereum’s daily active addresses have decreased by 7.7% over the past 90 days, and DApp usage is down 19%.

For Ether to rebound, it needs increased network activity and DApp usage.