{"id":16728,"date":"2024-09-05T19:39:48","date_gmt":"2024-09-05T16:39:48","guid":{"rendered":"https:\/\/forklog.com\/en\/ethereum-lags-behind-bitcoin-by-44-since-transition-to-pos-says-cryptoquant\/"},"modified":"2024-09-05T19:39:48","modified_gmt":"2024-09-05T16:39:48","slug":"ethereum-lags-behind-bitcoin-by-44-since-transition-to-pos-says-cryptoquant","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ethereum-lags-behind-bitcoin-by-44-since-transition-to-pos-says-cryptoquant\/","title":{"rendered":"Ethereum Lags Behind Bitcoin by 44% Since Transition to PoS, Says CryptoQuant"},"content":{"rendered":"<p>The price of Ethereum has significantly &#8220;lagged&#8221; behind that of digital gold since the activation of The Merge and the full transition to the Proof-of-Stake (PoS) consensus algorithm. This is reported by <a href=\"https:\/\/www.theblock.co\/post\/314869\/ether-has-underperformed-bitcoin-by-44-since-switch-to-proof-of-stake-cryptoquant\">The Block<\/a>, citing analysts from CryptoQuant.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cNext week marks two years since the Ethereum network transitioned to Proof-of-Stake \u2014 a result of the upgrade known as The Merge. Since then, Ether has lagged behind Bitcoin by 44%,\u201d the specialists observed.<\/cite><\/p><\/blockquote>\n<p>According to them, the trend remains unconvincing even after the July <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-etf-trading-commences-amid-moderate-pressure-on-price\">launch of spot Ethereum-<span data-descr=\"exchange-traded fund\" class=\"old_tooltip\">ETF<\/span><\/a>. The ETH\/BTC rate at 0.0425 is the lowest since April 2021.<\/p>\n<p>Experts added that since the transition to PoS, Ether has also lagged behind other assets like Solana and BNB by 53% and 18%, respectively. Moreover, the &#8220;slippage&#8221; in ETH&#8217;s price may continue further.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cIn our estimation, the price of Ether expressed in Bitcoin could fall to approximately 0.02, a 50% drop,\u201d the analysts noted.<\/cite><\/p><\/blockquote>\n<h2 class=\"wp-block-heading\">Why is Ethereum Falling?<\/h2>\n<p>As the primary reason for the negative trend, CryptoQuant specialists pointed to low on-chain activity, even compared to Bitcoin. One sign of stagnation is the decline in the total volume of transaction fees, partly due to the <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-developers-activate-dencun-hard-fork-on-mainnet\">Dencun upgrade<\/a>. This upgrade contributed to a reduction in the rate of ETH burning and, consequently, an increase in inflation.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cThe total supply of Ether has been steadily increasing since early April, shortly after Dencun. The figure now stands at 120,323 ETH, the highest since May 2023,\u201d Glassnode emphasized.<\/cite><\/p><\/blockquote>\n<p>According to analysts, investors and traders are showing a preference for Bitcoin over Ether. This is reflected in corresponding changes in spot trading volumes. <\/p>\n<p>Earlier, representatives from QCP Capital noted Ethereum&#8217;s significant lag behind the leading cryptocurrency in August. They also warned of a potential continuation of market correction in September.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of Ethereum has significantly &#8220;lagged&#8221; behind that of digital gold since the activation of The Merge and the full transition to the Proof-of-Stake (PoS) consensus algorithm. This is reported by The Block, citing analysts from CryptoQuant.<\/p>\n","protected":false},"author":1,"featured_media":16727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1205,46],"class_list":["post-16728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptoquant","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=16728"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/16728\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/16727"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=16728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=16728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=16728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}