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%..
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.
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.
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.
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