In a world being thrown upside down and sideways and Markets Rising and falling and Rising again on a few words and actions, there is one Shining Light in the world of Crypto
Ethereum - And its constant DROP when compared to BITCOIN
It is possibly the Only coin in the top 10 that has failed to rally at least once, to any significant degree since 2023, when nearly everything else took off.
It currently sits at the same price it was in May 2020 !
It reached its ATH in Nov 2021 and ever since then, has fallen in what is becoming a parabolic reverse curve;
All this despite coins like BASE, Coinbases Crypto, being based on that ETH Layer.
This is pretty well ALL down to the adoption of BITCOIN by corporate ventures, keeping the Bitcoin Dominance high.
I mentioned in a post back in 2023 ( maybe here but certainly on X) how BTC could be used in the "Financial Wars" to come, as a means to weaken and scupper ALT coins.
They tried to Destroy crypto, they failed and so, by allowing Bitcoin ETF's etc, BTC dominance remains High and ALTS Fail
And that is EXACTLY what we have seen so far. As Corporations continue to Buy Bitcoin, Dominance remains high..... It isd as simple as that.
And this ETH BTC chart shows that very clearly.
The REAL question is why the ETH ETF's failed so much.
Maybe that is because MANY people realised the "energy behind Ethereum" - The American crypto , Protected by Gensler and predecessors. The Not really Descentralised structure and power if you hoold a LOT, something not many independants can do
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.