Ethereum Underperforms Bitcoin 2 Years After The Merge, According to Cryptoquant Data.

Ethereum has underperformed bitcoin by 44% since The Merge, according to research from Cryptoquant. Despite significant upgrades and the recent approval of ethereum spot exchange-traded funds (ETFs), the cryptocurrency continues to face challenges relative to bitcoin.
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 CryptoQuant's analysts suggest that Ethereum's price is still above what they consider an undervalued range. They indicate that the ETH/BTC ratio might need to drop by 50% before Ethereum enters a more favorable valuation territory, implying that further price decreases could be on the horizon 

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