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Can ETH Mount a Comeback?

With ETH/BTC falling, investors are questioning ETH's future

Jack Inabinet
Jan 9, 2024 • 1 min read

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Broader crypto markets pared back yesterday’s gains, with the total crypto market cap (TOTAL) declining by 1.1%, but that didn’t stop Solana’s momentum! What tokens are primed for outperformance?

The ETH/BTC ratio has breached its 3AC liquidation lows, touching levels not seen since April 2021, and while Ethereum's position of dominance among smart contract platforms has undoubtedly come under threat, ETH could be set for a comeback later this year.

With the potential approval of spot ETH ETFs set to provide ETH regulatory parity with Bitcoin, the Dencun upgrade about to slice L2 transaction fees, and restaking about to increase the number of use cases for Ether the asset, Ethereum could be set for an epic 2024!

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Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.