Bitcoin (BTC) $ 105,006.00
Ethereum (ETH) $ 2,518.22
Tether (USDT) $ 1.00
XRP (XRP) $ 2.13
BNB (BNB) $ 642.14
Solana (SOL) $ 144.23
USDC (USDC) $ 0.999776
Dogecoin (DOGE) $ 0.176907
TRON (TRX) $ 0.271065
Lido Staked Ether (STETH) $ 2,518.38
Cardano (ADA) $ 0.622584
Wrapped Bitcoin (WBTC) $ 104,976.00
Hyperliquid (HYPE) $ 39.67
Wrapped stETH (WSTETH) $ 3,034.45
Sui (SUI) $ 2.89
Chainlink (LINK) $ 13.05
Bitcoin Cash (BCH) $ 426.36
LEO Token (LEO) $ 9.07
Avalanche (AVAX) $ 18.96
Stellar (XLM) $ 0.255486
Toncoin (TON) $ 2.94
USDS (USDS) $ 0.999749
Shiba Inu (SHIB) $ 0.000012
WETH (WETH) $ 2,519.39
Wrapped eETH (WEETH) $ 2,694.02
Hedera (HBAR) $ 0.153199
Litecoin (LTC) $ 85.12
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999543
Ethena USDe (USDE) $ 1.00
Monero (XMR) $ 311.84
Polkadot (DOT) $ 3.76
WhiteBIT Coin (WBT) $ 39.06
Bitget Token (BGB) $ 4.52
Coinbase Wrapped BTC (CBBTC) $ 105,031.00
Pepe (PEPE) $ 0.000011
Pi Network (PI) $ 0.609991
Uniswap (UNI) $ 7.25
Aave (AAVE) $ 273.54
Dai (DAI) $ 0.999492
Ethena Staked USDe (SUSDE) $ 1.18
Bittensor (TAO) $ 360.80
OKB (OKB) $ 51.45
Internet Computer (ICP) $ 5.48
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
Aptos (APT) $ 4.44
Cronos (CRO) $ 0.090667
NEAR Protocol (NEAR) $ 2.20
Ethereum Classic (ETC) $ 16.65
Jito Staked SOL (JITOSOL) $ 174.52
Ondo (ONDO) $ 0.779512
sUSDS (SUSDS) $ 1.06
Tokenize Xchange (TKX) $ 28.48
USD1 (USD1) $ 1.00
Mantle (MNT) $ 0.636225
Gate (GT) $ 16.85
Official Trump (TRUMP) $ 10.00
Kaspa (KAS) $ 0.073343
Fasttoken (FTN) $ 4.44
VeChain (VET) $ 0.021921
Sky (SKY) $ 0.086946
Cosmos Hub (ATOM) $ 4.07
Lombard Staked BTC (LBTC) $ 104,705.00
POL (ex-MATIC) (POL) $ 0.198161
Ethena (ENA) $ 0.291556
Render (RENDER) $ 3.36
Artificial Superintelligence Alliance (FET) $ 0.660576
Filecoin (FIL) $ 2.41
Arbitrum (ARB) $ 0.333244
Worldcoin (WLD) $ 0.970209
USDT0 (USDT0) $ 1.00
Binance-Peg WETH (WETH) $ 2,516.70
Algorand (ALGO) $ 0.176118
First Digital USD (FDUSD) $ 0.998951
Quant (QNT) $ 103.63
Jupiter Perpetuals Liquidity Provider Token (JLP) $ 4.36
USDtb (USDTB) $ 1.00
KuCoin (KCS) $ 11.21
SPX6900 (SPX) $ 1.39
Binance Staked SOL (BNSOL) $ 152.34
Flare (FLR) $ 0.018286
NEXO (NEXO) $ 1.21
Jupiter (JUP) $ 0.407953
Celestia (TIA) $ 1.78
Rocket Pool ETH (RETH) $ 2,865.39
Virtuals Protocol (VIRTUAL) $ 1.81
Kelp DAO Restaked ETH (RSETH) $ 2,637.00
Fartcoin (FARTCOIN) $ 1.15
Bonk (BONK) $ 0.000015
Injective (INJ) $ 11.45
Sonic (S) $ 0.336230
Story (IP) $ 3.59
Optimism (OP) $ 0.592446
Polygon Bridged USDT (Polygon) (USDT) $ 1.00
Binance Bridged USDC (BNB Smart Chain) (USDC) $ 0.998623
PayPal USD (PYUSD) $ 0.999895
XDC Network (XDC) $ 0.059530
Stacks (STX) $ 0.622833
Mantle Staked Ether (METH) $ 2,691.15
Sei (SEI) $ 0.174366
StakeWise Staked ETH (OSETH) $ 2,647.36
Solv Protocol BTC (SOLVBTC) $ 104,840.00
Kaia (KAIA) $ 0.148664
AB (AB) $ 0.013735
Arbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 104,840.00
Wrapped BNB (WBNB) $ 641.71
Immutable (IMX) $ 0.456736
Tether Gold (XAUT) $ 3,454.47
Renzo Restaked ETH (EZETH) $ 2,649.99
PAX Gold (PAXG) $ 3,479.37
dogwifhat (WIF) $ 0.839618
The Graph (GRT) $ 0.086720
clBTC (CLBTC) $ 107,123.00
Vaulta (A) $ 0.523932
Curve DAO (CRV) $ 0.591832
PancakeSwap (CAKE) $ 2.34
FLOKI (FLOKI) $ 0.000077
Jupiter Staked SOL (JUPSOL) $ 160.98
Lido DAO (LDO) $ 0.801250
Liquid Staked ETH (LSETH) $ 2,723.72
Zcash (ZEC) $ 44.06
OUSG (OUSG) $ 111.43
Marinade Staked SOL (MSOL) $ 187.66
Theta Network (THETA) $ 0.697187
GALA (GALA) $ 0.014967
Stables Labs USDX (USDX) $ 0.999571
Ethereum Name Service (ENS) $ 20.14
SyrupUSDC (SYRUPUSDC) $ 1.11
BitTorrent (BTT) $ 0.00000066
Jito (JTO) $ 1.93
The Sandbox (SAND) $ 0.263656
IOTA (IOTA) $ 0.167481
JasmyCoin (JASMY) $ 0.012905
Usual USD (USD0) $ 0.997794
Bitcoin SV (BSV) $ 30.88
Polyhedra Network (ZKJ) $ 1.98
Walrus (WAL) $ 0.448759
Pudgy Penguins (PENGU) $ 0.009553
Pendle (PENDLE) $ 3.69
Wrapped HYPE (WHYPE) $ 39.65
Pyth Network (PYTH) $ 0.103684
Solv Protocol Staked BTC (XSOLVBTC) $ 104,503.00
Raydium (RAY) $ 2.04
Aerodrome Finance (AERO) $ 0.705647
Tezos (XTZ) $ 0.559070
Ondo US Dollar Yield (USDY) $ 1.09
Core (CORE) $ 0.573226
Falcon USD (USDF) $ 0.999005
L2 Standard Bridged WETH (Base) (WETH) $ 2,519.45
Super OETH (SUPEROETH) $ 2,519.61
Flow (FLOW) $ 0.349677
Saros (SAROS) $ 0.211419
tBTC (TBTC) $ 104,965.00
ApeCoin (APE) $ 0.679348
Mantle Restaked ETH (CMETH) $ 2,688.95
cgETH Hashkey Cloud (CGETH.HASH) $ 2,619.99
THORChain (RUNE) $ 1.47
Arbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,519.41
Avalanche Bridged BTC (Avalanche) (BTC.B) $ 105,084.00
DeXe (DEXE) $ 8.81
Maple Finance (SYRUP) $ 0.465579
Decentraland (MANA) $ 0.262497
TrueUSD (TUSD) $ 0.997716
Compound (COMP) $ 52.31
Helium (HNT) $ 2.50
Grass (GRASS) $ 1.59
Staked HYPE (STHYPE) $ 39.65
Binance-Peg Dogecoin (DOGE) $ 0.176569
Kava (KAVA) $ 0.415742
Onyxcoin (XCN) $ 0.013038
USDD (USDD) $ 1.00
Beldex (BDX) $ 0.060556
Bridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999802
Brett (BRETT) $ 0.043425
Morpho (MORPHO) $ 1.39
Circle USYC (USYC) $ 1.09
eCash (XEC) $ 0.000021
USDB (USDB) $ 1.00
Ripple USD (RLUSD) $ 0.999874
MimbleWimbleCoin (MWC) $ 36.92
APENFT (NFT) $ 0.00000041
EOS (EOS) $ 0.555433
Axelar (AXL) $ 0.411970
AIOZ Network (AIOZ) $ 0.341787
Ket (KET) $ 0.402236
dYdX (DYDX) $ 0.510633
Starknet (STRK) $ 0.118407
Arweave (AR) $ 6.01
MultiversX (EGLD) $ 13.83
Aethir (ATH) $ 0.039362
NEO (NEO) $ 5.52
Keeta (KTA) $ 0.942725
Movement (MOVE) $ 0.148614
Stader ETHx (ETHX) $ 2,674.64
Mantle Bridged USDT (Mantle) (USDT) $ 1.00
ether.fi Staked ETH (EETH) $ 2,517.17
Eigenlayer (EIGEN) $ 1.22
Axie Infinity (AXS) $ 2.31
Conflux (CFX) $ 0.073422
Telcoin (TEL) $ 0.003914
Reserve Rights (RSR) $ 0.006215

ETH/BTC Sensationally Drops to April 2021 Levels

By admin On Sep 7, 2024

ETH/BTC, a metric of Ethereum (ETH) price in Bitcoins (BTC), plummeted to levels unseen since April 2021. CryptoQuant experts demonstrate how Ethereum (ETH) lost its supremacy in terms of network activity, tokenomics and more.

ETH/BTC price tumbles to 40-month lows, CryptoQuant says

The ETH/BTC ratio, a critical metric for the global blockchain ecosystem, dipped to 0.0425. This is the lowest level for this indicator registered since April 2021. Such calculations were shared by CryptoQuant, a major on-chain analytics team, in a recent X thread.

#Ethereum is down 44% against #Bitcoin since The Merge in Sept 2022.

ETH/BTC is now at 0.0425, the lowest since April 2021. pic.twitter.com/ogPk0SqEmB

— CryptoQuant.com (@cryptoquant_com) September 6, 2024

As such, Ethereum (ETH) lost 44% of its value against the largest cryptocurrency since The Merge transition happened in September 2022.

Such painful performance of ETH should be attributed to a combination of factors, CryptoQuant experts say. Launched in July 2024, Ethereum Spot ETF failed to mirror the success of Bitcoin’s due to the lack of liquidity and market uncertainty.

The Ethereum (ETH) network has witnessed too-low transaction activity accompanied with a dramatic decrease in fees generated. This dynamic was amplified by the L2 narrative run and Dencun upgrade activation.

Is Ethereum (ETH) in trouble?

Also, some other blockchain usage metrics on Bitcoin (BTC) are higher than those of Ethereum (ETH) thanks to the popularity of Inscriptions, Runes, L2s and so on.

The CryptoQuant team, however, suggests that the worst is yet to come for the second crypto:

Ethereum could fall further with respect to Bitcoin as ETH is still above undervaluation territory. We estimate that ETH would need to fall to about 0.02 in terms of Bitcoin, a 50% decline, for it to enter undervaluation territory.

Once Ethereum (ETH) lost its status of deflationary currency, its monetary design does not look so attractive for investors, the report says.

As covered by U.Today previously, Justin Bons of Cyber Capital highlighted that the “L2 lobby” is dragging Ethereum down to irrelevance right now.

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