In recent months, Ethereum has garnered attention for its significant growth. Last month, its price surged by 56%, marking the best performance in three years.
Leading Positions of Ethereum
Ethereum has shown remarkable growth, outpacing Bitcoin. In the last month, its return reached 56%, while its value gained over 113% in the last three months.
Comparison with Bitcoin
Bitcoin reached a historic high of $123,000; however, its rally remained limited. Data indicates that Bitcoin's monthly return exceeded 10%, with gains around 27% over the last three months.
Analysis and Future of Ethereum
Analysts point out that the rise in Ethereum was not due to capital inflow from Bitcoin, but rather an influx of new funds. Eric Balchunas, Bloomberg's Senior ETF analyst, highlighted that Ethereum resembles the 'tech stocks of the 90s' in terms of increasing adoption and network growth. He also noted that recent inflows into spot ETH ETFs recorded a 19-day streak of net inflows, the longest streak in history.
"Ethereum looks like '90s tech stocks as ETF inflows soar. This is a reminder that altcoin ETFs are more like '90s tech stocks than Bitcoin's 'new gold' appeal," Balchunas stated.
Ethereum continues to showcase impressive results, emphasizing its growing popularity among investors and users. While Bitcoin remains a crucial part of the cryptocurrency landscape, Ethereum seems to be heading towards significant growth and adoption.
