Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: codehash on December 10, 2021, 02:42:00 AM
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ETH has outperformed BTC by more than 230% this year and derivatives data suggests traders believe the altcoin has a lot more upside.
Most traders have noticed that Ether (ETH) price has seriously outperformed Bitcoin (BTC) for months now and the ETH/BTC ratio has rallied more than 230% in 2021 and recently hit a new high at 0.089 BTC on Dec. 9.
(https://s3.cointelegraph.com/uploads/2021-12/13842a11-fb1a-449f-86a1-bb0f6f3b71af.png)
To put things in perspective, Ether's $490 billion market capitalization currently represents 54% of Bitcoin's $903 billion. This ratio finished 2020 at a mere 15%, so it is safe to conclude that some 'flippening' has occurred. It might still be far from what Ethereum-maximalists imagined, but it is still quite a respectable run.
https://cointelegraph.com/news/data-shows-pro-traders-are-currently-more-bullish-on-ethereum-than-bitcoin