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⛓️ Crypto🔴 BearishImportance 7/10
Was Ethereum 'ultrasound money' a mistake? ETH down 65% vs. BTC since pivot
🤖AI Summary
Ethereum has underperformed Bitcoin by 65% since transitioning to Proof-of-Stake, failing to maintain its deflationary status as promised. The 'ultrasound money' narrative appears to have fallen short of expectations, disappointing ETH investors.
Key Takeaways
- →Ethereum has dropped 65% against Bitcoin since switching to Proof-of-Stake consensus mechanism.
- →ETH has failed to remain deflationary as originally promised with the merge transition.
- →The 'ultrasound money' narrative for Ethereum appears to have been overstated or premature.
- →Ether investors have been particularly disappointed with performance relative to Bitcoin.
- →The Proof-of-Stake pivot has not delivered the expected economic benefits for ETH holders.
Mentioned Tokens
$BTC$70,636▲+4.7%
$ETH$2,064▲+4.0%
Non-custodial · Your keys, always
Read Original →via CoinTelegraph
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