Ether-Bitcoin Ratio Drops to Lowest Since April 2021. Here’s Why It Matters

“The long-term reason for the rise has been the activity of Ethereum developers, both in relation to the blockchain itself and the growing ecosystem around it,” FxPro senior analyst Alex Kuptsikevich said in an email to CoinDesk. “However, by the end of 2023, the trend shifted in Bitcoin’s favor as the prospect of exchange-traded ETFs gained prominence.”