Ethereum vs Bitcoin: Are we back to pre-2021? 📉💰
Ethereum (ETH) has seen a sharp decline against Bitcoin (BTC), reaching 0.027 BTC, its lowest level since 2020. Despite some gains, ETH is still facing challenges as developments like NFT and DeFi have not impacted its value.
🚨 The biggest challenge
ETH has struggled to capitalize on recent developments like NFT and DeFi, which have weakened its market impact, despite its vital role in cryptocurrency activity.
💥 Price volatility
On February 3, ETH dropped to $2,080, before rebounding to $2,900. But the question remains: Will it rally back to $4,000?
🔒 Validators are pulling out
After peaking in September 2024, validators are starting to pull out, reflecting a slowdown in the Ethereum network due to market volatility.
💡 Shifting to cheaper networks
User traffic is shifting to networks like Solana and TRON due to lower fees, with increasing adoption of Layer 2 (L2) chains.
🔮 Is it a good time to buy?
Despite the challenges, it may be a good time to consider a long-term investment in ETH or growing alternatives.