Ether Loses Ground To Bitcoin Amid Market Downturn But Crypto Entrepreneurs Are 'Not Selling' It.
Portfolio Pulse from Benzinga Neuro
Ether (ETH) is losing investor preference to Bitcoin (BTC) amid a crypto market downturn. Ether's value has dropped about 18% since June, while Bitcoin's value saw a decrease of nearly half of that. Bitcoin's share of the crypto market has risen to 50.3% from 40%, while Ether's has dropped to 17.8% from 18.4%. Factors such as declining network activity and fees, rising coin supply, and fears of centralization have undermined investor confidence in Ether. However, crypto entrepreneurs like Justin Sun remain confident in Ether's prospects.
October 10, 2023 | 7:11 am
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POSITIVE IMPACT
Bitcoin is gaining investor preference over Ether amid a crypto market downturn. Bitcoin's share of the crypto market has risen to 50.3% from 40%.
The news indicates a shift in investor preference from Ether to Bitcoin, which could potentially drive up the demand and price of Bitcoin in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ether is losing investor preference to Bitcoin. Ether's value has dropped about 18% since June and its share of the crypto market has dropped to 17.8% from 18.4%.
The news indicates a shift in investor preference from Ether to Bitcoin, which could potentially drive down the demand and price of Ether in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100