Ethereum has been struggling to keep up with Bitcoin since its switch to a proof of stake system, with a significant 44% underperformance compared to the leading cryptocurrency.
The switch to proof of stake was meant to improve Ethereum’s scalability and energy efficiency, but it seems to have had the opposite effect in terms of price performance. While Bitcoin has continued to soar in value, Ethereum has lagged behind, leading to a noticeable performance gap between the two.
Investors and analysts are closely watching Ethereum’s performance, as its underperformance against Bitcoin could have long-term implications for its standing in the cryptocurrency market. Despite its struggles, Ethereum remains one of the most widely used blockchains for decentralized applications and smart contracts.
It remains to be seen whether Ethereum can regain its footing and close the gap with Bitcoin in the future. For now, all eyes are on Ethereum as it navigates this challenging period in its development.