Ethereum gained more than BTC and SOL this month, but it’s still dramatically underperforming. Here’s why that may turn around in 2025.
With Bitcoin hitting new all-time highs and closing in on the psychologically important $100,000 mark, a major topic of conversation is Ethers underperformance compared with the rest of the market. According to CoinMarketCap, ETH dominance is down to 12.6% at the time of writing, its lowest level since April 2021.
The Flippening is further away than ever, with Ether falling more than 50% against Bitcoin since 2021, even dropping below the 2016 cycle high.
Bitcoin has dominated mindshare over the past year, with huge flows of institutional money pouring into the Bitcoin ETFs, says Messari co-founder and chief technology officer Dan McArdle.
