The second largest cryptocurrency by market capitalization$ETH has been falling relative to the price of Bitcoin for more than two years. Why Ethereum turned out to be weaker than its competitorsThe ratio of the price of Ethereum to the cost of Bitcoin has dropped to the minimum observed in March 2021. However, "ether" has the potential to reverse against the main cryptocurrency, experts interviewed by The Block believe, noting the temporary nature of the trend.
The value of the Ethereum (ETH) trading pair to Bitcoin is at a three-year low of around 0.032, which was last observed at the end of March 2021. The downward trend of this ratio has been going on since September 2022, when the ratio was at 0.085, which is about a 60% decrease. Ether has maintained its status as the second most valuable cryptocurrency for several years, with a capitalization of over $374 billion, according to Coinmarketcap. This is more than three times higher than the two closest competitors: the Solana (SOL) blockchain cryptocurrency and Tether's USDT stablecoin. Their capitalizations are $115 billion and $130 billion, respectively.
