Ethereum’s Underperformance
Bitcoin benefited from several bullish narratives this year, including the halving and the approval of spot Bitcoin exchange-traded funds (ETFs). However, Ethereum (ETH) did not achieve similar gains despite the approval of spot Ethereum ETFs in May. ETH is up only 53.41% this year. Furthermore, ETH has struggled to maintain price action above $4,000 on multiple occasions, currently trading at $3,359.24.
