Ethereum (ETH) has been unable to match Bitcoin’s (BTC) momentum, reaching its lowest point in more than five years.
Recent data indicates that the ETH/BTC trading pair has dropped to 0.024, marking its weakest level since December 2020. This decline reflects Ethereum’s diminishing strength compared to Bitcoin, further illustrating the changing market sentiment.
Ethereum’s market share has also experienced a downturn, falling to 8.8%—its lowest since May 2020.
Alternatively, Bitcoin has bolstered its position in the market. Since 2022, BTC’s market dominance has gradually increased to 61.1%, representing one of its longest periods of growth.
A crypto analyst noted the significant change in Ethereum’s value compared to Bitcoin, highlighting that one Bitcoin could have purchased around six ETH back in 2017. Presently, the same amount of Bitcoin is capable of acquiring roughly 42 ETH, showcasing a marked decline in Ethereum’s value over the years.