$BTC is currently experiencing a massive supply shock, but in fact, the supply shock for $ETH is even greater.

**Supply Side:**

- In the past 30 days, the inflation rate of $ETH has been 0.1% lower than that of $BTC (1.2% lower over the past two years).

- Over 40% of $ETH is locked in smart contracts.

**Demand Side:**

- In the past two weeks, the inflow of funds into $ETH ETFs has been twice that of $BTC ETFs (staking features are about to be launched).

- The dollar value purchased by the $ETH treasury company is close to 50% of that of the $BTC treasury company (and they have only just begun).

All of this is happening while the value of $ETH is only one-fifth that of $BTC.

In the coming months, both assets are expected to perform well, but I believe that $ETH will continue to significantly outperform $BTC.