ANALYSIS: Ether Underperforms Bitcoin by 44% Since Shift to Proof of Equity

Ether has underperformed Bitcoin by 44 per cent since the move to proof of equity, according to analysts at CryptoQuant. Even after the approval of the Ether Spot Exchange Traded Fund (ETF) in the U.S. on 23 July, ethereum has continued to underperform bitcoin, with the ETH/BTC price currently at 0.0425, its lowest level since April 2021, the analysts added. CryptoQuant analysts added that Ether could fall further relative to Bitcoin: ‘We estimate that Ether would need to fall to around 0.02 of Bitcoin, or 50 per cent, to enter the undervalued range’.