The post ETH/BTC ratio marks new low – Is Ethereum worth the investment?   appeared on BitcoinEthereumNews.com.

ETH/BTC ratio’s fresh lows have fueled a new debate about investing in ETH Speculators are still expecting ETH to hit $4k in 2025 Ethereum [ETH] has weakened against Bitcoin for over three years. This can be best evidenced by the ETH/BTC ratio, a metric which tracks ETH’s relative price performance against BTC. It marked a new low of 0.022 recently.  Commenting on the extended decline, Alex Thorn, Galaxy Digital’s Head of Research, stated, “Ether is down 74% against Bitcoin since switching from proof of work to proof of stake.” Source: ETH/BTC, TradingView In fact, some community members have even called for the network to return to PoW (proof-of-work), like BTC, assuming that the altcoin’s value could be propped up again.  Is ETH worth the bet? For his part, Quinn Thompson, founder of macro-focused hedge fund VC Lekker Fund, believes that ETH is “not worth the investment.” He cited declining network activity, among other reasons.  “Make no mistake, $ETH as an investment is completely dead. A $225 billion market cap network that is seeing declines in transaction activity, user growth and fees/revenues. There is no investment case here.” Source: The Block He added that the network has its perks as a utility, but not an investment. Nic Carter, partner at Castle Island Ventures and co-founder of data aggregator Coinmetrics, echoed this sentiment.  In fact, Carter blamed L2s for killing ETH’s value and stated,  “The #1 cause of this is greedy ETH L2s siphoning value from the L1 and the social consensus that excess token creation was A-OK. ETH was buried in an avalanche of its own tokens. Died by its own hand.” According to Thompson, the ETH/BTC ratio declined by double digits during the 2023-2024 bull cycle and it could be worse off during a bear cycle.  The recent ETF flows…

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Filed under: News - @ March 30, 2025 2:07 am