According to BlockBeats, Matrixport reported on June 12 that since the merger of PoW and PoS chains in September 2022, the ETH/BTC exchange rate has been on a clear downward trend. Despite Ethereum occasionally surpassing Bitcoin, this situation has not persisted. As the exchange rate approaches the top of the downward channel, Ethereum may underperform once again.
The merger of the PoW (Proof of Work) and PoS (Proof of Stake) chains was a significant event in the cryptocurrency world. However, it seems to have had a negative impact on the ETH/BTC exchange rate. Ethereum, despite its occasional surges, has not been able to maintain a consistent lead over Bitcoin.
The downward trend of the ETH/BTC exchange rate indicates that Bitcoin continues to hold a strong position in the cryptocurrency market. The approaching top of the downward channel suggests that Ethereum may face further challenges in the near future. This information is crucial for investors and traders who are involved in the cryptocurrency market.