With a 3,7% loss in the last week and 2.7% in the last hour, Bitcoin’s price sits near critical support. On the other hand, Ethereum managed to climb to a new all-time high and sits on top of two fast-growing sectors: DeFi and NFTs.
Former Goldman Sachs Executive Raoul Pal has shown data to demonstrate that throughout its history, Ethereum has outperformed Bitcoin by 250% in the trading pair ETH/BTC. According to Pal, the cryptocurrency “only fell” against BTC 5 months after its inception on August 6th, 2015. He added:
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