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The ratio of ETH and BTC capitalization has updated a three-year low

1:41 pm, November 7, 2024

Analysts at The Block reported that the ratio of Ethereum’s capitalization ETH $2,802.28 Bridged Ether (StarkGate) 7.06% Market capitalization $0.23 billion VOL. 24 hours $1.98 billion to Bitcoin’s BTC $74,816.98 Bitcoin 1.21% Market capitalization $1.48 trillion VOL. 24 hours $3.54 billion dropped to 24.52%, the lowest since 2021.

It is worth adding that at the beginning of 2024, this figure exceeded 32%. Analysts note that the total inflow of funds into Bitcoin spot exchange-traded funds (ETFs) exceeded $ 23 billion, while inflows into Ethereum ETFs remain negative (-$ 554 million).

According to experts, the perception of Bitcoin as digital gold makes the first cryptocurrency more understandable for investment funds and traders compared to the more technically complex Ethereum.

«Although Ethereum’s technological capabilities and ecosystem are more diverse, this complexity can make it difficult to understand in the traditional finance sector, which prefers clearly defined strategies and assets. Therefore, the inflow of funds into the ecosystem remains in the negative range, but in the future, the situation may change for the better,» analysts said.

Experts expect that as Bitcoin is further accepted by classical financial funds and organizations, the growth of interest and investment in Ethereum will also resume.

Bernstein analysts predicted that Donald Trump’s victory in the US election could lead to a rise in bitcoin to $ 80,000−90,000, while Kamala Harris' victory, on the contrary, could lead to a drop in the cryptocurrency to around $ 50,000.

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BTC

$74,816.98

1.21%

ETH

$2,802.28

7.06%

BNB

$590.56

1.51%

XRP

$0.54

2.37%

SOL

$186.98

-0.14%

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