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Title: Glassnode Analysis Reveals Why Ethereum is Lagging Behind Bitcoin
Market intelligence firm Glassnode suggests that Ethereum (ETH) is trailing behind Bitcoin (BTC) due to a lack of increased capital influx from new buyers.
Key Factors Impacting Ethereumโs Performance
- Glassnode analysis highlights the absence of enhanced capital inflow in ETH compared to BTC
- Bitcoin witnessed a surge in short-term holders after the approval of spot ETFs
- While BTC hit all-time highs, ETH struggled to break its 2021 ATH
- Realized Cap metric reflects the profit/loss status of holders
Potential Catalyst for Ethereumโs Growth
- SEC approval of spot Ethereum ETFs may trigger increased capital inflow into ETH
- ETH awaits a decision on multiple ETF applications scheduled for May-end
Market Performance of Bitcoin and Ethereum
As of writing, Bitcoin trades at $61,454, down by over 2.6% in the last 24 hours. Ethereum is priced at $2,970, reflecting a decline of 2.7% for the day.
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Sources: Glassnode