Bitcoin

Ethereum turns 5, but the ETH price versus Bitcoin has not recovered since 2018

Ethereum turns five and Ether (ETH) has surprised investors with a trip of over $ 300, however Compared to Bitcoin (BTC), the largest altcoin is underperforming.

As confirmed by the skew chain monitoring data, ETH / USD’s share of BTC / USD remains well below its all-time high.

Ether stays away from the high prices of Bitcoin

For Ethereum’s birthday, Ether’s stock was 3.1% of the BTC price. At its peak in January 2018, the value was 11%..

Ethereum turns 5, but the ETH price versus Bitcoin has not recovered since 2018
Ethereum turns 5, but the ETH price versus Bitcoin has not recovered since 2018

Since the Altcoins boom over two years ago, Ether has not been able to recover much of the lost groundwhen Bitcoin took over the wider cryptocurrency market cap.

When the developers of Ethereum switched to Ethereum 2.0, ETH / USD has only recently started rewarding patient owners.

Only last week saw a 45% price increase that outperformed Bitcoinas the previous resistance level of $ 285 was exceeded. At press time, ETH / USD was trading at $ 325, which was due to the DeFi token phenomenon and the related trading boom.

Ether price as a percentage of the 3 year chart for the Bitcoin price

Diagram of the ether price as a percentage of the 3-year price of Bitcoin. Source: Skew

Warm birthday wishes

Meanwhile, The correlation between the two cryptocurrencies has changed significantly in recent weeksand the 1-month measurement shows a special deviation from the norm.

ETH / BTC realized correlation comparison

The ETH / BTC correlation comparison was carried out. Source: Skew

Cointelegraph has released a retrospective to mark Ethereum’s fifth anniversary, in which the ups and downs of the project have been analyzed since 2015.

Don’t miss our next Cointelegraph Crypto Traders live conference tomorrow. There will be more than 30 stars, including Raoul Pal, John Bollinger, Mike Novogratz, DataDash, and Jon Najarian, who will meet on July 30 to discuss the challenges of cryptocurrency trading. Take part in the show and watch over 9 hours of cryptocurrency trading content!

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