Ethereum is looking more like the “Microsoft of blockchains” every day
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Ethereum’s got a lot of haters right now. Perhaps Vitalik Buterin singing isn’t the bullish signal everyone’s looking for. As Bitwise’s Matt Hougan pointed out in a note yesterday, the ETH/BTC ratio hit its lowest level in three years.
ETH has struggled with upward momentum in the past few quarters, unlike both bitcoin and solana. “The vibes in the community are tough,” Hougan wrote.
It’s a fair assessment, given that the expectation for ETH to follow in bitcoin’s footsteps may be a fair one. Bitcoin received ETF approval earlier this year and then carved out all-time highs just a few months later, and ETH tracked the momentum like a loyal dog.
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