Since 2021, Ethereum has faced significant declines, as evidenced by the ETH/BTC ratio. While many traders are disappointed, experts emphasize the platform's achievements.
Current Market Problems
According to Santiment analyst Brian Q, the ETH/BTC ratio has plummeted by 77% from its late 2021 peak, frustrating long-term holders. Anyone who bought ETH near its all-time high of $4,800 has not yet found a profitable exit. In the current year, Ethereum has experienced its worst Q1 in seven years, dropping 45%. Over the past fortnight, the token has lost nearly 19%. Additionally, it has seen a severe 14.6% decline in the past week while global crypto markets fell by just 4.1%. Many traders on social media have referred to Ethereum as "the new shitcoin," pointing to smaller altcoins that have performed better.
Recent Ethereum Updates
Despite the negative sentiment, Santiment notes that Ethereum is quietly completing significant upgrades that may lay the groundwork for its next phase. Since reaching its ATH, Ethereum has completely overhauled its consensus mechanism, unlocked staked ETH withdrawals, and is actively scaling with EIP-4844’s proto-danksharding. Despite the price slump, Ethereum still leads in decentralized finance, holds most active developers, and remains a platform of choice for emerging applications.
Future Outlook for Ethereum
Blockchain co-founder Vitalik Buterin is already looking ahead. On April 11, he proposed a comprehensive roadmap to enhance Ethereum’s user privacy, focusing on both on-chain payments and anonymized interactions. In Brian Q’s opinion, these milestones haven’t just reduced energy usage and gas fees; they have also reset the network’s technical foundation for mainstream adoption.
The ETH/BTC decline may raise concerns among traders and investors; however, ongoing updates in the Ethereum network and attention to future stability and privacy may pave the way for recovery and long-term success.
