Crypto

Ether (ETH) Is Going to Shine Again, Steno Research Says

Bitcoin has been showing significant outperformance in comparison to ether recently. Analyst Mads Eberhardt has identified three main reasons for this trend.

1. Impact of U.S. Spot ETFs

The introduction of U.S. spot ETFs for both bitcoin and ether has played a crucial role in the market. Bitcoin has experienced a more positive impact from this development compared to ether, leading to its outperformance in recent times.

2. Persistent Buying Pressure from MicroStrategy

MicroStrategy (MSTR) has been consistently exerting buying pressure on bitcoin, which has contributed to its strong performance. This continuous support has helped bitcoin maintain its upward momentum, outshining ether in the market.

3. Decline in Ethereum’s Transactional Revenue

In recent months, there has been a noticeable decline in Ethereum’s transactional revenue. This has affected ether’s performance and has allowed bitcoin to take the lead with its more stable revenue streams.

Overall, these factors have combined to give bitcoin the edge over ether in the current market conditions. Investors and analysts will be closely monitoring these trends to see how the cryptocurrency landscape evolves in the coming months.

Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry. What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content. As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button