Decline in ratio suggests weaker investor demand for Ethereum, compared to Bitcoin
The ratio between Ethereum and Bitcoin, the world's top two cryptocurrencies, plummeted Sunday to its lowest level in more than three years.
The ETH/BTC ratio decreased 2.8% on Sunday and dove below the 0.04 mark for the first time since April 2021, official data showed.
The ratio was at 0.039570 with a 1% daily gain on Monday.
The decline in ratio suggests a weaker investor demand for Ethereum, the world's second biggest cryptocurrency, compared to Bitcoin -- the top cryptocurrency in the world.
Spot Ethereum exchange-traded funds (ETFs), in addition, has been seeing net outflows, with over $20 million on Thursday, according to Farside Investors, a London-based investment management company that specializes in global equities and cryptocurrency.
Spot Bitcoin ETFs, on the other hand, saw net inflows of $39 million on Thursday and $263.2 on Friday, according to Farside Investors data.
Bitcoin's share, known as dominance, was at 56.6%. Ethereum's was at 13.6% on Monday, according to CoinMarketCap.
